FTSE companies challenged to pay on time

APA has joined other professional bodies in throwing itself behind a new campaign which is calling for all of the UK’s top 100 FTSE companies to sign the PPC. Read more at: http://www.promptpaymentcode.org.uk/

The scheme is part of the wider ‘Be Fair - Pay on Time’ campaign conceived by Debbie Abrahams MP, which asks all firms to pay their suppliers as quickly as possible under the agreed terms and conditions set out at the start of the contract, and without retrospectively changing payment times.

A letter countersigned by a number of leading business organisations, including the Institute of Credit Management (ICM), good friends of APA, has been sent to the UK’s top 100 FTSE companies not already signed up to the PPC, inviting them to show their commitment to pay their accounts on time and help SMEs stay afloat as the country recovers from the recession.
Currently, just a quarter of the FTSE 100 companies have signed up to the voluntary payment code.

Gareth Osborne said: “The Prompt Payment Code is something all large organisations; public and private, should subscribe to. It asks nothing more than to pay suppliers as and when agreed. Sadly still too few of them actually do. They should be leading the way and not mumbling platitudes and shuffling away. There has always been a belief that large organisations should be role models; in terms of professional ethics and morals, modern times have started to suggest otherwise and it’s time they conformed.”

APA always pays invoices on time; or earlier where possible. PAs; especially those in large business, should ask internally if their organisation does the same.

APA