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Prompt Payment Code : Credit Management Matters
Department for Business Innovation & Skills
 
CICCWORLD in partnership with the Institute of Credit Management and the Department for Business Innovation & Skills have been instrumental in delivering the initiatives listed below.
 
Prompt Payment Code
 

The Prompt Payment Code is another critical step in a series of structured initiatives devised by the government with The Institute of Credit Management (ICM) to tackle the crucial issue of late payment and help small businesses especially. Suppliers can have confidence in any company that signs up to the code that they will be paid within clearly defined terms, and that there is a proper process for dealing with any payments that are in dispute. This is an exciting development, and we shall regularly monitor its performance to ensure best practice is being followed.

The Department for Business, Innovation and Skills (BIS) has recently commissioned the ICM to produce a number of key guides to help small businesses in these difficult times. Pending the official launch of the full series of guides, titled 'Managing Cashflow' the Governmant has identified the early publicationof this information as vital.

"The Prompt Payment Code is another critical step in a series of structured initiatives devised by the government with The Institute of Credit Management (ICM) to tackle the crucial issue of late payment and help small businesses especially. Suppliers can have confidence in any company that signs up to the code that they will be paid within clearly defined terms, and that there is a proper process for dealing with any payments that are in dispute. This is an exciting development, and we shall regularly monitor its performance to ensure best practice is being followed."

 
Peter Mandelson : Secretary of State for Business
 
 
 
Credit Management Matters
 
Credit Management Matters has been setup in conjunction with the ICM as an online portal to help credit industry professionals get paid with tips from the Institute and links to resources from leading industry professionals.
 
 
Department for Business Innovation & Skills
 
The Department for Business Innovation & Skills have developed a series of guides in partnership with the Institute of Credit Management which is part of a series of initiatives providing practical support to help businesses help themselves through these difficult times. They are designed to provide straightforward and speedy advice with simple checklists and top tips. CICCWORLD provide access to these useful guides to the professional credit community as part of the Credit Management Matters portal.
 
 
Useful Links
 
 

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