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Compliance with UK Prompt Payment Code to be 'rigorously enforced', says minister

Large companies that have signed up to the industry's Prompt Payment Code but that do not pay their suppliers within a reasonable time period will have their names removed, UK business minister Matthew Hancock has confirmed. 02 Mar 2015

UK government proposes clearer definition of ‘grossly unfair’ payment terms

Small businesses in the supply chain will find it easier to challenge their large customers over “grossly unfair” payment terms and practices if the UK government succeeds in making it clear exactly what that means, an expert has said. 09 Feb 2015

Out-Law Guides

  • Managing automotive recalls in China

    Automotive manufacturers selling vehicles in China are subject to strict rules governing product safety and must follow procedures set by a regulator when undertaking recalls. Manufacturers face financial losses, regulatory fines and significant reputational...

  • Using competitive tenders

    Many private sector organisations are using competitive tenders to procure goods and services or award significant contracts. Competitive tenders can be used to maintain a competitive edge and drive a better commercial deal.

  • Third party contracts and bank ring-fencing

    This is one of a  series of guides  on issues connected to ring-fencing and banking reform faced by banks. Other guides cover issues such as tax, real estate, employment, pensions, litigation and competition considerations.

  • Ensuring continuity of supply in a crisis

    This guide was last updated in August 2011.

  • Transferring supply chain contracts

    If the assets of a company are taken over or the company merges with another, this will affect its legal identity. When this happens, any contracts which that company is a party to will need to be adjusted so that any rights and obligations it has will transfer...