Press Release – 22nd January 2015
Lincad, a leader in the design and manufacture of specialist batteries, chargers and power management systems, is delighted to announce that it has been invited to join the Prompt Payment Code Advisory Board.
The Prompt Payment Code, launched in 2008 by the Chartered Institute of Credit Management and the Department for Business, Innovation and Skills, is designed to encourage and promote best practice between organisations and their suppliers. Signatories to the Code commit to paying their suppliers within clearly defined terms, and also commit to ensuring there is a proper process for dealing with any issues that may arise. Independent analysis indicates that current signatories to the Code represent over 60% of total UK supply chain value.
The Advisory Board has been set up to strengthen the functions of the Code and its current members include the Confederation of British Industry, the Forum for Private Business, the Institute of Directors, Greggs, Fujitsu, Skanska, Barclays, Aviva, Stort Chemicals, Bury Council and City of London Corporation.
Sarah Saywood, Lincad’s Financial Director, commented:
“As recent signatories to the Prompt Payment Code, we were honoured to be invited to join the Advisory Board alongside some highly prestigious names. As an SME, we are fully committed to the Code which we believe has a vital role to play in fostering confidence across the supply chain”.
Notes to Editors
Lincad Press Office
Phone: +44 (0) 844 822 1658
Mobile: +44(0)7739 461 061
- Lincad is a privately owned UK company with over 28 years’ experience in the design and manufacture of standard and specialist batteries, chargers and intelligent power management systems.
- The core business of Lincad is the supply of batteries, chargers and intelligent power management systems for military applications. Its main customers are the UK Ministry of Defence (MOD), UK Defence Primes and Strategic Military and Defence Partners. More recently, Lincad has been involved in developing new battery, charger and power management technologies for specialist applications across a range of different sectors.
- Lincad is an ISO 9001 accredited company with expertise in battery chemistry and systems engineering and operates out of two sites in Surrey in the South East of England where the design and manufacture of all its products takes place.