Following reports the Bristan Group was included in the Forum of Private Business (FPB) ‘Hall of Shame’ for increasing payment terms, it has now signed the Government’s Prompt Payment Code.
Small business organisation, the FPB campaigns against companies which delay payment to suppliers. It names them in a ‘Hall of Shame’ and lobbies for businesses to sign up to the Prompt Payment Code.
Now Bristan has been accepted to join the Prompt Payment Code, the FPB has removed the company from its 'Hall of Shame'.
Bristan CFO, Lance Gillett commented: “Bristan Group has always upheld a policy of paying our suppliers on time, against our agreed negotiated terms. So, we were happy to join and support the Prompt Payment Code after hearing about it in a letter from the Forum of Private Business.”
The FPB’s senior policy advisor, Alex Jackman said: “We welcome Bristan’s move to join the Prompt Payment Code.” He added: “But it is not just the timeliness of payment, though fast payment is always welcome, but rather the certainty of getting paid that is really important, and enables businesses to plan both for their short and longer-term futures. Therefore we applaud Bristan for acting on our advice.”
Lance Gillett retorted: “We are proud to advise that Bristan group is rated in the top 1% of businesses in the industry, based on financial strength and low risk, by Dunn & Bradstreet and so can confirm that Bristan is also independently assessed as a strong partner for suppliers and customers to work with.”
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