Prompt Payment Policy
The Prompt Payment Code (PPC) is a voluntary code of practice for businesses administered by the Office of the Small Business Commissioner (OSBC) on behalf of the Department for Business and Trade (DBT). It was established in December 2008 and sets standards for payment practices between organisations of any size and their suppliers.
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Purpose This policy outlines our commitment to ensuring prompt payment to our suppliers, in accordance with UK government requirements and best practices.
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Scope This policy applies to all suppliers providing goods and services to Middleton Solutions Ltd
Payment Terms
• We aim to pay 90% of undisputed and valid invoices from small and medium-sized enterprises (SMEs) and large organisations via bank transfer within 5 working days.
• On most occasions, payment will be made upon receipt of the invoice.
• All undisputed and valid invoices will be paid within 30 days.
• Payment terms will be agreed upon at the outset of a transaction and adhered to throughout the contract.
Invoice Submission
• Invoices must be submitted to the designated address or email provided in the contract.
• Invoices should include the date, supplier legal name, contact details, bank details, and relevant details associated to the work undertaken, this can be provided as a purchase order number.
Dispute Resolution
• Any disputes regarding invoices will be addressed promptly by the Middleton Solutions Ltd CEO.
• Suppliers will be notified promptly by email if any part of an invoice is contested.
Reporting and Compliance
• We will report our payment performance annually on our website, in line with government targets.
• Any supplier who has declared assignments will be subcontracted to a third party, and must ensure that 95% of invoices in their supply chain are paid within 60 days.
Contact Information
For any queries regarding this policy, don't hesitate to contact our CEO, Becky Middleton
