Business Committee writes to supermarkets on payment practices
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星期四, 五月 23, 2019
Committee publishes correspondence to retailers on payment practices
Key Points:
- Rachel Reeves MP, Chair of the Business, Energy and Industrial Strategy (BEIS) Committee has written to six grocery retailers to ask why they are not signatories to the Prompt Payment Code (PPC), a voluntary code which sets standards for payment practices.
- Only half of the 12 regulated grocery retailers in the UK are listed as signatories to the PPC.
- The correspondence follows arecent BEIS Committee evidence hearing(on 14thMay )withChristineTaconCBE,the Groceries Code Adjudicator which picked upon a range of issues relating to the remitof the GCA, including aroundthe treatment of suppliersandconcerns around late payments and poor payment practices.
- The Prompt Payment Code website lists 6 of the 12 regulated retailers, covered by the GCA,as having signed up to the Prompt Payment Code: ASDA, Co-op, M&S, Sainsburys, Tesco and Waitrose (as John Lewis).