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UK Finance is proud to be signed up to the Prompt Payment Code (the “Code”) and has had 30-day standard payment terms since its inception.
The Code sets standards for payment practices and best practice and is administered by the Chartered Institute of Credit Management on behalf of the Department for Business, Energy and Industrial Strategy. Compliance with the principles of the Code is monitored and enforced by the Prompt Payment Code Compliance Board. The Code covers prompt payment, as well as wider payment procedures.