In a move which highlights its ongoing commitment to the use of ethical business practices, leading industrial workwear specialist Ballyclare Limited has now become a signatory to the Prompt Payment Code. The company will adhere to the conditions of the Code, which governs the relationships signatories develop with their suppliers.
“The Code aims to encourage good practice and transparent dealings between trading partners and that’s something we are all in favour of,” explains Ballyclare Managing Director, Carlton Greener. “It sets out standards governing payment and best practice activities we’re more than happy to adopt, and we’re delighted to help promote the Code and its aims.”
Administered by the Chartered Institute of Credit Management, the Code requires signatories to pay suppliers within a maximum of 60 days and to work towards adopting 30 days as a norm. Among other requirements, they must also avoid any practices that adversely affect the supply chain.
“There are still too many instances in the business where delayed payments can have adverse effects on suppliers, especially where small businesses are involved,” Carlton adds. “At Ballyclare we have a very clear vision of our own corporate and social responsibilities and signing up to the Code provides us with another opportunity to uphold those responsibilities. We want our trading partners to view us a great company to do business with, and the Code will certainly help in that respect. We’d also encourage trading partners to sign up themselves, as having more and more organisations operating according to the Code principles can only be a positive move for everyone involved.”
For more information on Ballyclare visit: ballyclarelimited.com
Image shows the headquarters of leading industrial workwear specialist Ballyclare Limited which has become a signatory to the Prompt Payment Code. Picture provided by Ballyclare.