More companies suspended from prompt payment code
This post has already been read 708 times!
Another large number of construction companies have been suspended from the Prompt Payment Code for failing to pay suppliers on time an issue that has ben highlighted by Nationaltradesmen.co.uk.
Among 18 firms suspended today across all industries were Galliford Try, Ferrovial Agroman (UK) Ltd, Alun Griffiths, Severfield (Design & Build) Ltd, Stantec and Screwfix.
These compaines have been removed form PPC because they failed to honour their Code commitment to pay 95% of all supplier invoices within 60 days.
Code chief executive Philip King commented saying: “We will continue to challenge signatories to the Code if the obligatory Payment Practice Reporting data suggests that their practices are not compliant.
“We are encouraged that of the 18 who have been suspended or removed today, all but one has already submitted action plans to achieve future compliance, and we are working closely with those businesses to support a better payment culture.”
Small Business Commissioner Paul Uppal followed up saying: “Large companies who are not currently meeting the Code Standards need to note their unethical payment practices will not be tolerated.
“The suspension of those who are failing to meet their obligations demonstrates Government is committed to ensure small businesses are treated fairly.”
