Prompt Payment Code

Our commitment

Super B Plus Group Ltd is signed up to the Prompt Payment Code and has had a 30-day payment procedure for small business & public sector contracts and a 60-day payment procedure for large business.

The Prompt Payment Code (PPC) sets standards for payment practices and best practice and is administered by the Office of the Small Business Commissioner. Compliance with the principles of the Code is monitored and enforced by the Prompt Payment Code Compliance Board. The Code covers prompt payment, as well as wider payment procedures.

In the realm of business transactions, the Prompt Payment Code (PPC) serves as a vital framework aimed at fostering timely payments between businesses. Super B Plus Group Ltd adheres to this code, reflecting our commitment to maintaining healthy cash flow and supporting our suppliers and partners.

The Prompt Payment Code is a voluntary code of practice that encourages businesses to pay their suppliers promptly and fairly. By signing up to this code, Super B Plus Group Ltd demonstrates its dedication to ethical business practices and the importance of maintaining strong relationships with our suppliers.

According to the guidelines of the Prompt Payment Code, businesses are encouraged to pay their suppliers within 30 days for small business or 60 days for large business of receiving an invoice. As well as implement 30-day payment terms in new public sector contracts and pass the term down the supply chain. This practice not only supports the financial stability of suppliers but also enhances the overall efficiency of the supply chain. Research indicates that timely payments can significantly reduce the risk of insolvency for small and medium-sized enterprises (SMEs), which are crucial to the economy.

Super B Plus Group Ltd recognizes that prompt payment is essential for fostering trust and collaboration within the business community. By committing to the Prompt Payment Code, we aim to set a standard for our industry, ensuring that all parties involved in our supply chain are treated fairly and equitably.

Furthermore, adherence to the Prompt Payment Code can lead to improved supplier relationships, better negotiation terms, and enhanced reputation within the market. Studies have shown that businesses that prioritize prompt payments often experience increased loyalty from their suppliers, leading to more favorable terms and conditions in future transactions.

In conclusion, Super B Plus Group Ltd is proud to uphold the principles of the Prompt Payment Code. We believe that timely payments are not just a financial obligation but a fundamental aspect of building sustainable and mutually beneficial business relationships. By fostering a culture of prompt payment, we contribute to a more robust and resilient business ecosystem.

You can read our policy below, and more about prompt payments on the Prompt Payment Code website.

Prompt Payment Code

Super B Plus Group Ltd is a signatory to the Prompt Payment Code. We encourage all of our suppliers to adopt the Code which undertakes to:

1. Pay Suppliers on time

  • within the agreed terms at the contract's outset
  • without attempting to change payment terms retrospectively
  • without changing practice on length of payment terms for smaller companies on unreasonable grounds

2. Give clear guidance to suppliers

  • providing suppliers with clear and easily accessible guidance on payment procedures 
  • ensuring there is a process for handling complaints and disputes that is communicated to suppliers
  • notifying them immediately if there is any reason why an invoice will not be paid as per the agreed terms

     

3. Encourage good practice

  • by requesting lead suppliers to promote the code within their supply chains/payment procedures.

Our standard payment terms are a  30-day payment procedure for small business & public sector contracts and a 60-day payment procedure for large business.

A valid invoice is one that:

  • is provided on time in accordance with the contract
  • is for the right amount
  • is in respect of goods or services supplied/delivered to the required quality
  • provides the date, supplier name, contact details and bank details
  • quotes the relevant purchase invoice reference to comply with our No PI, No Pay policy - the purchase order number will contain PI letters follow by the numbers, e.g. PI-x
  • is emailed to: info@superbplusgroup.co.uk

Suppliers must provide accurate bank details and email addresses to Super B Plus Group Ltd for payment processing. Order number (PI-x) should be included in all correspondence to prevent payment delays. Address or bank detail changes must be communicated to Super B Plus Group Ltd at least 4 weeks in advance.

Payment methods

We process supplier payments daily per the agreed payment terms and utilize BACS (Bank Automated Clearing System) for payments. Super B Plus Group Ltd is not accountable for delays in payments beyond our control (e.g. technical issues with our Banking Provider).

Upon completion of payment processing, remittance advice notes are sent to the supplier via email.

Payment disputes

Super B Plus Group Ltd will endeavour to advise suppliers promptly of any disputes or reasons why an invoice will not be paid in accordance with the agreed terms. Invoices that are subject to dispute will not be paid until resolution of the dispute.  Once resolved, payment will be made in accordance with the terms of this policy and the Code.

Complaints

Complaints in relation to the processing of payments and/or invoices should be emailed to info@superbplusgroup.co.uk with the supplier reference number included.

Contact details

E: info@superbplusgroup.co.uk