Prompt Payment Code (PCC)
November 2018
Drumgrange has become a signatory of the Prompt Payment Code.
The Prompt Payment Code (PPC) sets standards for payment practices and is administered by the Chartered Institute of Credit Management on behalf of the Department for Business, Energy and Industrial Strategy (BEIS). 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.
As a code signatory we undertake to:
1. Pay suppliers on time
- Within the teams agreed at the outset of the contract;
- Without attempting to change payment terms retrospectively;
- Without changing practice on length of payment for smaller companies on unreasonable grounds.
2. Give clear guidance to suppliers
- Providing suppliers with clear and easily accessible guidance on payment procedures;
- Ensuring there is a system for dealing with complaints and disputes which is communicated to suppliers;
- Advising them promptly if there is any reason why an invoice will not be paid to the agreed terms.
3. Encourage good practice
- By requesting that lead suppliers encourage adoption of the code throughout their own supply chains.
About the Company:
Drumgrange is a thriving independent UK systems engineering house with a proven track record for the rapid realisation of demanding defence industry design tasks combined with high quality manufacturing. Drumgrange is expert in the integration of existing technology to create successful, cost effective solutions and is backed by the full range of in-house support services. In addition, Drumgrange supplies an expanding range of UK quality specialised off the shelf products to worldwide commercial and defence markets. Drumgrange products are in service with the UK Armed Forces at home and overseas, NATO forces and Foreign Militaries.
If you require any additional information, please do not hesitate to contact us at [email protected] or 01932 581100.
