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ISME Calls On Diageo Ireland To Adopt 60-Day Payment Policy

Published on Mar 23 2015 12:51 PM

ISME Calls On Diageo Ireland To Adopt 60-Day Payment Policy

ISME has called on Diageo Ireland to follow the lead of its UK payment and commit to a 60-day limit for payments to its suppliers.

The call comes following the move by its UK parent to agree to a 60-day limit for payments, following several weeks of talks between the drinks giant and the Chartered Institute of Credit Management, which manages the 'Prompt Payment Code' on behalf of the British government.

According to a recent Daily Telegraph report, Diageo wrote to suppliers in February saying it was seeking to extend payment times to suppliers from 60 days to 90 days, a move it has since scrapped.

"In Ireland, ISME has worked with the Department of Jobs Enterprise & Innovation on our Fair Pay Charter that Diageo might sign up to here," ISME said in a statement.

"We’d like to hear from Diageo that we’ll see the same U-turn here or otherwise we will wage the same campaign as that which was run in the UK."

According to a recent ISME survey of Irish small businesses, payment delays have gone out from 52 days to 60 days, and are heading for the 74-day delay reached at the height of the recession.

Diageo Ireland were unavailable for comment.

© 2015 - Checkout Magazine by Stephen Wynne-Jones

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