Larger companies could have to face fines and criminal proceedings if they fail to state their treatment of suppliers, twice a year, in order to severely reduce bad payment practices. The bill also requires that the government publish annual reports on its progress towards reducing payments for poor performance.
Larger companies could have to face fines and criminal proceedings if they fail to state their treatment of suppliers, twice a year, in order to severely reduce bad payment practices. With the new rules coming into play in April, all reports concerning firms' payment practices will have to be filed on a new website from the Department for Business, Energy & Industrial Strategy.