Rolls-Royce and Persimmon among companies named over late payments

  • 📰 SkyNews
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 67%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The Prompt Payment Code (PPC) requires firms signed up to pay 95% of supplier invoices within 60 days.

A review of whether companies are meeting the standards has completed its first phase and identified 17 companies to be removed or suspended.

CICM chief executive Philip King said:"The Board is disappointed with the actions of a minority who continue to treat their suppliers unfairly, and has no satisfaction in having to name them publicly." Rolls-Royce said the assessment was"disappointing", saying it offered 30-day payments to many smaller suppliers and that as a group it paid 90% of invoices on time.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 35. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines