BA, Sky and Sony sign prompt payment code

Eleven more companies including British Airways, Sony UK and Sky have agreed to sign the UK government's Prompt Payment Code following a meeting with UK business minister Shriti Vadera.

Another 10 companies "committed in principle" to join the code, which calls for companies to settle supplier invoices within a contractually agreed time and not make retrospective changes to payment terms.

CIPS chief executive Simon Sperryn said the increase was encouraging. Prompt payment was "good commercial practice", he said, embedded in the CIPS code of ethics and part of maintaining the health of supply chains.

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