Our prompt payment policy
SEEDA aims to pay all properly authorised invoices within 10 days of receipt, in accordance with Government accounting practice.
SEEDA is committed to improving our prompt payment performance. In the quarter April to June 2009 we achieved 96% of invoices paid within 8 days.
SEEDA is pleased to be an Approved Signatory of the Code.
What is the prompt payment code?
Pay suppliers on time
- within the terms 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
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
Encourage good practice
- by requesting that lead suppliers encourage adoption of the code throughout their own supply chains
See how we are doing
Prompt payment report September 2009
Prompt payment report August 2009
Prompt payment report July 2009
Prompt payment report June 2009
Prompt payment report May 2009
Prompt payment report April 2009
|
