BWB Technologies Ltd (BWB), a leading provider of cutting-edge Flame photometers proudly announces its association with the Prompt Payment Code (PPC). The company's commitment to responsible payment practices and ethical business conduct aligns perfectly with the Code's objectives of fostering prompt and fair payment procedures. The PPC, administered by the Small Business Commissioner on behalf of the Department for Business and Trade (DBT), sets rigorous standards for payment practices and best practice.
BWB recognises the importance of maintaining strong relationships with its suppliers and partners. By adhering to the principles outlined in the PPC, the company demonstrates its dedication to supporting fair and efficient payment processes throughout its supply chain.
The Small Business Commissioner, tasked with overseeing the regulation and governance of the PPC and its signatories, plays a pivotal role in ensuring compliance and investigating any reported violations. BWB Technologies Ltd welcomes this oversight, as it reinforces the company's commitment to upholding the highest ethical standards in its payment practices.
Joining the PPC signifies BWB’s adherence to the following key criteria:
Paying suppliers on time: The company recognises the importance of honouring its financial obligations to suppliers promptly, facilitating their operational stability and growth.
Providing clear guidance to suppliers: BWB understands that transparent communication is crucial to establishing strong working relationships and ensuring mutual understanding of payment terms.
Encouraging good practice: The company actively promotes fair payment practices within its organisation and encourages its suppliers to do the same, fostering a culture of integrity and accountability.
Paying 95% of all invoices within 60 days: BWB consistently strives to meet or exceed this benchmark, reinforcing its commitment to timely payment and financial stability for its suppliers.
Paying 95% of all invoices within 30 days for small businesses: Recognising the unique challenges faced by small businesses, BWB prioritises prompt payment to smaller suppliers with fewer than 50 employees.
Avoiding practices with adverse effects on the supply chain: The company diligently avoids any practices that may disrupt the smooth functioning of the supply chain, acknowledging the importance of a sustainable and cooperative business ecosystem.
By associating with the Prompt Payment Code, BWB Technologies Ltd demonstrates its unwavering dedication to fostering fair payment practices, supporting its suppliers, and maintaining a robust and sustainable supply chain. The company firmly believes that these principles contribute to the overall health and success of the business community, driving economic growth and prosperity for all stakeholders involved.
BWB encourages other organisations within the industry to follow suit and join the Prompt Payment Code, emphasising the positive impact of responsible payment practices on the broader business landscape.
For more information about BWB Technologies Ltd and its association with the Prompt Payment Code, please contact:
Hozan Edwards – marketing@bwbtech.com
About BWB Technologies Ltd:
BWB Technologies Ltd is a leading provider of cutting-edge Flame Photometers with a strong commitment to innovation, quality, and ethical business practices, BWB consistently delivers exceptional products and services to its global clientele. By fostering strong relationships with suppliers and partners, the company contributes to the growth and success of the broader business community.