Prompt Payment Code - Signatories pledge

Code signatories pledge to:

Pay suppliers on time

• within the terms agreed at the outset of the contract, or 30 days, in accordance with legislation
• without attempting to change payment terms retrospectively
• without changing practice on length of payment for smaller companies on unreasonable grounds 

Give clear guidance to suppliers

• provide suppliers with clear and easily accessible guidance on payment procedures
• advise them promptly if there is any reason why an invoice will not be paid to the agreed terms
• ensure there is a system for dealing with complaints and disputes which is communicated to suppliers 

Code signatories agree to:

Encourage good practice

• by requesting that lead suppliers encourage adoption of the code throughout their own supply chains.