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Vastalla joins Italian Responsible Payment Code

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Vastalla joins the Italian Responsible Payment Code.

By signing this Code, the companies undertake to comply with the payment terms agreed upon with their suppliers and, more generally, to encourage efficient, timely, and fast payment practices.

The contents of the Code and its implementation procedures are extremely lean, in line also with its voluntary nature.

The Signatories of the Italian Responsible Payment Code undertake to pay suppliers on time:

  • Within the terms agreed at the outset of the contract;
  • Without changing payment terms retrospectively;
  • Reducing the payment terms specifically for smaller companies;

Furthemore the signatories give clear guidance to suppliers:

  • providing suppliers with clear and easily accessible guidance on payment procedures;
  • ensuring there is a system for dealing with complaints and disputes which is communicated to suppliers;
  • advising them promptly if there is any reason why an invoice will not be paid to the agreed terms.

The Italian Responsible Payment Code draws inspiration from the British Prompt Payment Code, which was strongly sponsored by the UK Government and by the Confederation of British Industry (CBI).