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Housing Today
Trusted media brand of the Chartered Institute of Housing
Big firms told to speed up payments to small suppliers
Prompt Payment Code changes mean signatories will soon have to play small businesses within 30 days
An overhaul of the Prompt Payment Code to crack down on delayed invoices owed to small businesses has been announced by the government.
Under new reforms, companies that have signed up to the Prompt Payment Code will be obliged to pay small businesses within 30 days – half the time outlined in the current code.
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