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Prompt Payment Code FAQs

Why should I sign up?

Businesses, Suppliers and Consumers would prefer to transact with businesses that pay their invoices as agreed when they signed contracts.

What benefit is there to signing up?

Being known as a prompt payer may help you gain new suppliers.

Will everyone know how quickly I pay?

No, what you pay and when you pay is private information.

When do I have to pay?

As agreed within the terms of your contract or where no contract exists within legislation (Late Payments in Commercial Transactions Regulations 2012).

Do I have to sign up to the code?

Signing up for the Prompt Payment Code arrangement is voluntary.

What does the Prompt Payment Code say?

Code Signatures pledge to pay suppliers on time (within the terms agreed at the outset of the contract, or 30 days, in accordance with legislation), give clear guidance to suppliers and agree to encourage good practice.

As a signatory to Prompt Payment Code, can I withhold a payment?

If you have lodged a query that is upheld by the Supplier, payment would not be made until the query is resolved.

If I query an invoice how long can I withhold payment?

Queries should be communicated to suppliers in a timely manner and at all times in accordance with the Terms and Conditions entered into for the sale. An invoice should not be unpaid indefinitely, the amount in query may be held in reserve until the supplier addresses the query, but the unqueried amount should be released.

Does signing up to the Prompt Payment Code alter any contracts I have entered into?

Signing up for the Prompt Payment Code arrangement does not alter contractual relationships and does not change the legal position in relation to late payments.

How do I become a signatory to the Prompt Payment Code?

Please email prompt.payments@dbei.gov.ie and we will forward you the application form to complete.

Once registered, how do I promote the fact I am a signatory?

When your application has been processed, you will receive an email confirming that you are now listed on our website as a signatory.

Being a member now means that you can include the Prompt Payment seal in your communications and stationery – letting potential suppliers, partners and staff know that you are committed to paying promptly to help businesses thrive in Ireland.

Can I start using the Prompt Payment seal immediately?

When your application is processed the official Prompt Payment Code Seal will be emailed to you and you can begin to use it immediately on receipt.

What is the Prompt Payment Code Seal and why is it important?

The Prompt Payment Seal is granted to businesses who register as being compliant with the Prompt Payment Code. It is an important indicator to businesses doing business with you of your commitment to best practice. The seal is granted as the result of your confirming your compliance with the code. By displaying the seal you are demonstrating to your suppliers that you are committed to the code.