The UK's Groceries Code Adjudicator launched an investigation into Amazon regarding delayed payments, raising concerns about their impact on suppliers. Delays in payment can significantly harm suppliers, exposing them to risks that limit their capacity for investment or innovation. This issue is not limited to large corporations, as small and medium businesses also risk negative consequences from unreliable payment systems. The UK government promotes better payment ethics through initiatives like the Prompt Payment Code, which penalizes companies for breaching agreements. It is crucial for businesses to verify payment entities to prevent potential fraud and reclaiming incorrect VAT.
"Delays in payment can significantly harm suppliers."
"Poor payment practices won't go unnoticed."
"These issues don't only affect large corporations."
"Companies that breach agreed payment terms could face public naming or worse."
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