EUA achieve Prompt Payment Code Status
24th Aug 2015
Leading trade association the Energy and Utilities Alliance, EUA has achieved Prompt Payment Code status. The Prompt Payment Code (PPC) sets standards for payment practices and best practice and is administered by the Chartered Institute of Credit Management on behalf of BIS.
Mike Foster, Chief Executive of EUA said “I am delighted that we have achieved the PPC, it demonstrates our commitment to ensuring that we pay our bills on time.
One of the major reasons for companies going bankrupt isn’t lack of orders but lack of cash flow caused by late payment. This code will go some way to helping companies know who they can trust to pay them on time.”
Compliance with the principles of the Code is monitored and enforced by the Prompt Payment Code Compliance Board. The Code covers prompt payment, as well as wider payment procedures.
EUA are at the forefront of ethical business practices, also being a Living Wage Employer and accredited by the Fairtrade Foundation.
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