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Defence

Lincad invited to join Prompt Payment Code Advisory Board

Manufacturer of specialist batteries, chargers and power management systems, Lincad, has been invited to join the Prompt Payment Code Advisory Board.


Above:  A Lincad charger.

The Prompt Payment Code, launched in 2008 by the Chartered Institute of Credit Management and the Department for Business, Innovation and Skills, is designed to encourage and promote best practice between organisations and their suppliers. Signatories to the Code commit to paying their suppliers within clearly defined terms, and also commit to ensuring there is a proper process for dealing with any issues that may arise. Independent analysis indicates that current signatories to the Code represent over 60% of total UK supply chain value.

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The Advisory Board has been set up to strengthen the functions of the Code and its current members include the Confederation of British Industry, the Forum for Private Business, the Institute of Directors, Greggs, Fujitsu, Skanska, Barclays, Aviva, Stort Chemicals, Bury Council and City of London Corporation.

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Sarah Saywood, Lincad’s Financial Director, commented: “As recent signatories to the Prompt Payment Code, we were honoured to be invited to join the Advisory Board alongside some highly prestigious names. As an SME, we are fully committed to the Code which we believe has a vital role to play in fostering confidence across the supply chain.”

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