Prompt Payment Code

Funded by the Department for Business Innovation & Skills (BIS), the Prompt Payment Code is a scheme that companies can sign up to in promotion of their fair supplier payment policy.

It is open to anyone who wants to sign up.  It could help your reputation to do so.

Arguably more useful is the knowledge that your customers are signed up to the Code.  If they are, they are supposed to be good customers when it comes to paying your bills.  If they show less than good behaviour, it can be another credit control tool to remind them of their commitment to the Code and perhaps even threaten to report them to the regulator.