Retail, Food and Hospitality Regulatory Update 22 March 2015

We have used a traffic light system to sort the week’s regulatory developments in order of importance: Important updates, Developments to watch and For your information, so you don’t have to.

BIS Minister announces regulation on prompt payment

BIS Business and Better Regulation Minister Matthew Hancock has announced that large businesses will be required to publish detailed information on their payment practices and performance twice a year from April 2016.  Information required will include payment terms and % of invoices paid on time, those paid late including interest owing and paid. There will also be a requirement to publish details if payment has been required to become or remain a supplier. The stated intention is to make prompt payment a ‘boardroom reputational issue’. 

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Food & Retail Archive

This information is intended as a general discussion surrounding the topics covered and is for guidance purposes only. It does not constitute legal advice and should not be regarded as a substitute for taking legal advice. DWF is not responsible for any activity undertaken based on this information.

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Hilary Ross

Executive Partner (London) - Head of Retail, Food & Hospitality

Recognised by The Lawyer as one of the UK’s Top 100 lawyers, I advise clients on compliance and challenges across the EU in relation to products, systems and safety.