SmartDebit respond to late payments bankrupting suppliers in the construction industry

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SmartDebit

(PRWEB UK) 27 December 2012

In a bid to end late payment culture in the construction industry, trade associations representing more than 24,000 businesses are calling on the Government not to use companies with a history of late payment for public work. The chief executives of the Federation of Master Builders and the Association of Plumbing and Heating Contractors, among others, signed a letter stating:

“The widespread, long standing culture to pay small suppliers late, or even not at all, results in hundreds of firms going under every month”. The letter continues, “This is now compounded by the collapse of some major firms, leaving vast amounts of monies owing to their supply chains”.

A spokesperson from SmartDebit, one of the UK’s leading Direct Debit solutions helping organisations to automate their payment collections, commented on the claims, “This is yet another industry-specific example of how fatal late payments can be for businesses in the current economic climate. There are many services on the market which allow organisations, no matter how big or small, to include automated payment methods in their agreements prior to commencing work. This will provide businesses with better control and a healthier cash flow."

About SmartDebit

SmartDebit is the UK’s leading Direct Debit Bureau, specialising in payment processing services since 1998. A Bacs approved Bureau, scoring ‘Excellent’ in all five categories of the Bacs audit, and ISO 27001 compliant. Providing a complete range of services: Outsourcing; SmartDebit-Admin cloud based portal; SmartDebit-Online payer sign up; SmartDebit-API integrated solution and SmartDebit-Contingency.

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