Prompt Payment Code Signatories and Suspensions

What is the Prompt Payment Code Data Set?

The Prompt Payment Code (PPC) is a voluntary code of practice established in December 2008, aimed at promoting fair payment practices between businesses of all sizes. Administered by the Office of the Small Business Commissioner (OSBC) on behalf of the Department for Business and Trade (DBT), the PPC sets out clear standards for timely payments and transparency between companies and their suppliers.

The Code encourages businesses to:

Pay suppliers on time, within agreed terms.
Provide clear guidance to suppliers on payment terms and dispute resolution.
Support best payment practices throughout their supply chain.

The dataset shows which companies have signed, and which ones have been suspended. 

Who is it for?

Our Prompt Payment Code data set is a valuable resource for:

• Procurement teams: Ensure you partner with businesses that prioritize fair payment practices.
• Suppliers and vendors: Assess the payment reliability of prospective clients before entering into contracts.
• Financial institutions: Evaluate the financial health and payment ethics of companies in your portfolio.
• ESG analysts: Use payment practices as a measure of ethical business conduct for reporting and assessments.
• Corporate responsibility teams: Align with businesses that maintain integrity in their financial operations.

What can it do for you?

With the Prompt Payment Code data set, you can:

• Identify trustworthy partners: See which businesses are committed to paying their suppliers on time, enhancing your supply chain reliability.
• Monitor risk: Stay informed about businesses that have been suspended or removed from the PPC for failing to meet the code’s standards. This helps you avoid partnerships that may expose you to late payments and financial risk.
• Gain a competitive edge: Use the data to ensure compliance with fair payment practices, which can improve your business reputation and attract customers or investors focused on ethical supply chains.
• Track PPC and Fair Payment Code signatories: As the PPC evolves into the Fair Payment Code, continue to track which businesses are meeting the new, higher standards of fair payment.

More about the product

Our Prompt Payment Code data set includes:

• A comprehensive list of all current signatories to the Prompt Payment Code.
• Information on businesses that have been suspended or removed from the PPC due to non-compliance with the 60-day payment standard (or 30-day for small businesses).
• Updates on companies as they transition to the new Fair Payment Code once it comes into effect later in 2024, including information on businesses achieving Gold, Silver, or Bronze status under the new standards.

This data set is regularly updated and available as part of our TISCreport subscription service, ensuring you always have the most current information on companies’ payment practices.