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1126299
star this property registered interest false more like this
star this property date less than 2019-05-13more like thismore than 2019-05-13
star this property answering body
Department for Business, Energy and Industrial Strategy more like this
star this property answering dept id 201 more like this
unstar this property answering dept short name Business, Energy and Industrial Strategy more like this
star this property answering dept sort name Business, Energy and Industrial Strategy more like this
star this property hansard heading Business: Billing more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government, further to the Written Answer by Lord Henley on 10 May (HL15375), what action, if any, they plan to take to penalise those companies who do not comply with the Prompt Payment Code; and whether this will include removing those companies from all Government tenders until such companies have demonstrated compliance. more like this
star this property tabling member printed
Lord Berkeley more like this
star this property uin HL15659 remove filter
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove maximum value filtermore like thismore than 2019-05-20
unstar this property answer text <p>The Prompt Payment Code is a voluntary Code administered by the Chartered Institute of Credit Management (CICM) on behalf of Government. Signatories to the Code sign up to pay 95% of invoices in 60 days, with an ambition to move toward 30-day payment terms. Signatories who do meet the standard are invited to submit a plan to CICM setting out clearly how they will improve their performance. Those who submit a satisfactory plan and subsequently demonstrate compliance are suspended from the Code and can be reinstated in the future. Those who do not engage with CICM, and fail to submit a plan, will be removed.</p><p>Starting in September this year, suppliers could be excluded from winning Government contracts if they fail to pay subcontractors on time. Under the new rules, suppliers who bid for government contracts above £5m per annum, who cannot show they are paying 95% of invoices within 60 days, risk being prevented from securing government contracts. We have contacted all suppliers reminding them of this initiative and their responsibilities on prompt payment.</p><p> </p>
star this property answering member printed Lord Henley more like this
star this property question first answered
less than 2019-05-20T16:05:42.333Zmore like thismore than 2019-05-20T16:05:42.333Z
star this property answering member
2616
star this property label Biography information for Lord Henley more like this
star this property tabling member
3526
unstar this property label Biography information for Lord Berkeley more like this