>Prompt Payment Code

About Prompt Payment Code

The Prompt Payment Code is about encouraging and promoting best practice between organisations and their suppliers.

Late payment threatens survival of small business – Minister Breen

“Pay on Time” – Minister Breen urges businesses who pay their suppliers on time to sign up to the Prompt Payment Code. 28th February 2017 Minister Breen launches a public campaign to promote awareness of the 'Prompt Payment Code' The Minister of State for Employment and Small Business, Pat Breen, met with the Prompt Payment Code Stakeholders [...]

By | February 28th, 2017|News|0 Comments

ISME Greets launch of new Prompt Payment Code

ISME, the Irish Small and Medium Enterprises Association today (February 28th ) welcomed the launch of the new Prompt Payments Code by Minister of State for Employment and Small Businesses, Pat Breen. The Association sees today’s launch as an important step in changing the culture around late payments. ISME encourages all its members to sign [...]

By | February 28th, 2017|News|0 Comments

Small Firms Association Press Release

The Small Firms Association (SFA) is partnering with the Government on the new Prompt Payment Code Portal, which is being officially launched today, Monday, 27 February 2017, by the Minister for Small Business, Pat Breen TD. Ireland’s late payment culture must be consigned to the past Average payment to a small firm takes 62 days [...]

By | February 27th, 2017|News|0 Comments

Getting paid on time

Article written by Linda Barry, Assistant Director of the Small Firms Association Getting paid on time is a never-ending concern for anyone in business, especially if your business is a small business. Late payment causes serious cash flow problems, requires firms to extend overdraft facilities and in some cases can even lead to insolvency and [...]

By | February 9th, 2017|TIPS & ADVICES|0 Comments

What can you do?

Always agree payment terms in advance as part of your contract agreement Establish a payment system that will allow ease of payments Publish your payment process on your website so that suppliers are aware of your terms and conditions and who to speak to if they have a query Resolve any invoice disputes quickly, efficiently [...]

By | January 12th, 2017|TIPS & ADVICES|0 Comments

Prompt Payment is good for YOU!

It enhances your reputation which makes you more attractive to suppliers A culture of prompt payment promotes cash flow in both directions – you pay your suppliers on time and you get paid for your sales on time You will avoid costly late payment interest fees and compensation costs

By | January 12th, 2017|TIPS & ADVICES|0 Comments