RQA Signs up to Prompt Payment Code

RQA is proud to be a signatory of the UK Government Prompt Payment Code that sets standards for payment practices between organisations of any size and their suppliers.  RQA Group has just become a signatory, although we have complied with the requirements for 18 years.  If you have payment terms greater than 30 days, speak to your finance / procurement departments and encourage them to sign up to the code for a fairer supply chain.  Read on to see if your company is a signatory.

Becoming a signatory of the Prompt Payment Code and committing to good payment, benefits both suppliers and customers and is fundamental to bringing about a culture change in late payment and boosting the economy.

Signatories undertake to:

1) pay suppliers on time, within agreed terms;

2) give clear guidance to suppliers on terms, dispute resolution and prompt notification of late payment;

3) support good practice throughout their supply chain by encouraging adoption of the Code.

4) undertake to pay 95% of invoices within a maximum of 60 days, work towards adopting 30 days as the norm and avoid any practices that adversely affect the supply chain.

There are 2491 companies signed up to the code, include many large and small businesses.  Some of the larger ones are listed below, or for a full list and more information on the scheme, click here.

Accenture

Allied Bakeries

Allied Mills

Asda Stores

Associated British Foods

AstraZeneca

BAE Systems

Bank of England

Barclays Bank

BP

British Airways

Capita Group

Compass Group

Dunelm Group

Deloitte

General Mills

Greggs

John Lewis Partnership

John West Foods

Mills & Reeve LLP

Primark Stores

Rexam

Severn Trent Water

Smith & Nephew

Speedibake

Screwfix

Tate & Lyle

Tesco

Thales UK

The Jordans and Ryvita Company

Westmill Foods