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In recent years, UK procurement has seen a lack of transparency between large businesses and suppliers. In an effort to combat this, as part of the Industrial Strategy initiative, the government introduced 'The Reporting on Payment Practices and Perfomance Regulations' on April 6th 2017.
The following guide will provide you with everything you need to know about the new government scheme, including; how it will change UK procurement, which businesses need to report, where and when to report, and more...
(Please note, this guide has been created to provide general guidance only. Users of the guidance should seek their own legal advice in relation to the legislation).
Included in this guide:
- How will this initiative benefit UK procurement?
- What is 'The Reporting on Payment Practices and Performance Regulations 2017'?
- Which businesses need to report?
- What information needs to be reported?
- Where does the information need to be reported?
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