Phoenix promises prompt payment to all vendors

Prompt Payment Code LogoPhoenix signs the Prompt Payment Code in support of payment best practice standards between organisations and their suppliers.  

The Prompt Payment Code is a voluntary code of practice administered by the Office of the Small Business Commissioner on behalf of BEIS that sets standards for payment practices between organisations of any size and their suppliers. Phoenix has signed the code to show our dedication to driving positive change towards fair payment terms and boosting the economy.

Clare Metcalfe, Operations Director at Phoenix comments, “Good payment practice benefits both our suppliers and customers and is fundamental in ensuring that reasonable payment timescales are adhered to.

“Guaranteeing that our vendors are paid on time is part of our corporate social responsibility and helps to set the standard for other businesses within our community and industry.”

As a signatory of the code, Phoenix commits to:

1) Pay suppliers on time, within agreed terms

2) Give clear guidance to suppliers on terms, dispute resolution, and prompt notification of late payment

3) Support good practice throughout their supply chain by encouraging adoption of the code

Phoenix has also signed up to the Prompt Payment Policy Scheme to demonstrate that the payment systems we have in place ensure a reliable supply chain for our work with government and the public sector.

Read more about our corporate social responsibility policy.