Alchemy Global Ltd signs up to the UK Government’s Prompt Payment Code

Alchemy Global Ltd signs up to the UK Government’s Prompt Payment Code

Alchemy Global Ltd has signed up to the Prompt Payment Code that helps ensure small businesses are paid on time.

The voluntary code of practice highlights an organisations’ commitment to fair payment terms to suppliers, especially smaller businesses. It also encourages adoption of the same practices throughout the supply chain.

Prompt Payment Code signatories undertake to pay suppliers on time within the terms agreed at the outset of the contract, without attempting to change payment terms retrospectively and without changing practice on length of payment for smaller companies on unreasonable grounds.

The code gives guidance to companies and ensures there is a system for dealing with complaints and disputes, advising them promptly if there is any reason why an invoice will not be paid to the agreed terms.

Stuart said the UK is already one of the best places in the world to do business and the Prompt Payment Code illustrates a commitment to uphold quality business practices. He added: “Unfair payment practices hamper a business’s ability to invest in growth and have no place in an economy that works for everyone.”

“Signing up to the code illustrates our commitment at Alchemy Global to ensure we meet industry’s best practice arrangements – in all areas. It’s a signal of our assurance to our business partners, suppliers and, ultimately, our customers.

For more information please email: [email protected] or call +44 (0) 203 355 0084