{"id":77061,"date":"2020-06-03T10:27:49","date_gmt":"2020-06-03T09:27:49","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=77061"},"modified":"2020-06-03T10:27:49","modified_gmt":"2020-06-03T09:27:49","slug":"prompt-payment-code","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/prompt-payment-code\/77061\/","title":{"rendered":"Kier Highways and Seddon reinstated to Prompt Payment Code"},"content":{"rendered":"

Kier Highways<\/a> and Seddon Construction<\/a> have been reinstated to the Prompt Payment Code following improvements in payment practices to their supply chain<\/h2>\n

Kier Highways, Seddon and Screwfix<\/a> engaged with the Prompt Payment Code Compliance board by outlining how they plan to achieve compliance and meet the commitments of the code.<\/p>\n

Prior to being suspended from the Prompt Payment Code<\/a>, Kier Highways was paying 79% of invoices within 60 days and is now paying at 98%.<\/p>\n

Screwfix was paying 18% of invoices within 60 days and is now paying at 91%.<\/p>\n

Seddon Construction was paying 19% of invoices within 60 days and is now paying at 92%.<\/p>\n

Seddon and Screwfix are currently working towards paying 95% of all invoices to meet the code criteria.<\/p>\n

\u2018More important than ever\u2019 to honour payment commitments<\/h3>\n

Interim small business commissioner, Philip King, said:\u00a0\u201cA growing number of businesses have signed up to the code in recent months and this shows the importance companies place on being signatories to the code.<\/p>\n

\u201cThe current pandemic crisis is placing an extraordinary pressure on the cashflow<\/a> of businesses and it is more important than ever that code signatories honour their payment practice commitments.<\/p>\n

\u201cI welcome other businesses to become signatories and help change the culture of late payments which will stimulate the economic recovery<\/a> of UK businesses.<\/p>\n

\u201cIt is encouraging to see suspended signatories now adhering to the requirements of the code and being reinstated but the companies who continue to treat their suppliers unfairly remains a concern.<\/p>\n

\u201cI will continue to challenge signatories if the obligatory Payment Practice Reporting data, or a specific challenge from a supplier or representative body, suggests that their practices are not compliant with the code.\u201d<\/p>\n

Andrew Davies, chief executive at Kier, commented:\u00a0\u201cWorking collaboratively with BEIS and the office of the small business commissioner we are pleased our actions have resulted in this latest progress for Kier Highways.<\/p>\n

\u201cFollowing the reinstatement of other Kier businesses onto the Prompt Payment Code we remain committed to working proactively and in partnership with our suppliers.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

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