Galliford Try has been reinstated to the Prompt Payment Code, just under six months since it was suspended.
The news emerged in the company’s trading update this week in which it said it was “pleased to acknowledge its readmittance” to the scheme.
- Kier Construction reinstated to Prompt Payment Code
- Kier suspended from Prompt Payment Code as Interserve reinstated
The news had not officially been announced by the Chartered Institute of Credit Management (CICM), which administers the Prompt Payment Code for the government, however, Galliford Try has been added back onto its list of signatories, having been removed in July last year.
CICM’s next official update on which companies have been suspended from the Code and which have been reinstated is expected at the start of February.
Code signatories commit to paying suppliers on time, giving them clear guidance, and encouraging good practice in their supply chain. They also undertake to pay 95% of all invoices within a maximum of 60 days, as well as working towards adopting 30-day payment as the norm.
