This month we became an approved signatory of the Prompt Payment Code (PPC). The Prompt Payment Code (PPC) sets standards for payment practices and best practice and is administered by the Chartered Institute of Credit Management. Compliance with the principles of the Code is monitored and enforced by the Prompt Payment Code Compliance Board. The Code covers prompt payment, as well as wider payment procedures.
Cash is the fuel of growth for small and medium businesses and is crucial to their well-being. Without prompt payment, cash flow suffers, employees may not get paid and the livelihoods of many are put at risk.
We pride ourselves on our ethical stance and champion the cause of small and medium businesses.
WORKPLACE is a signatory to the Prompt Payment Code. We encourage all of our suppliers to adopt the Code which undertakes to: 1. Pay suppliers on time
within the terms agreed at the outset of the contract
without attempting to change payment terms retrospectively
without changing practice on length of payment for smaller companies on unreasonable grounds
2. Give clear guidance to suppliers
providing suppliers with clear and easily accessible guidance on payment procedures
ensuring there is a system for dealing with complaints and disputes which is communicated to suppliers
advising them promptly if there is any reason why an invoice will not be paid to the agreed terms
3. Encourage Good Practice
by requesting that lead suppliers encourage adoption of the code throughout their own supply chains
For more information please send us an email: firstname.lastname@example.org