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Powercube are an approved signatory of the Prompt Payment Code.
The Prompt Payment Code (PPC) is a voluntary code of practice for businesses, administered by the Office of the Small Business Commissioner (SBC) on behalf of BEIS. It was established to set standards for payment practices between organisations of any size and their suppliers and publicly signifies organisations’ commitment to fair payment terms to suppliers, especially smaller businesses. 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.
The Code has subsequently been strengthened and requires signatories to 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. Powercube Director Russell Bartley said “We champion ethical transactions and always endeavour to do the best for our suppliers. By paying promptly the chain runs more smoothly and good business relations are maintained throughout.” Get in touch with the team to find out more.