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Tesco extends improved payment terms

Tesco is extending its improved payment terms scheme for its smaller suppliers until 31 January 2021. 
 
The initiative was brought in to assist small suppliers at the start of the Covid-19 crisis and the extension means that 2,000 suppliers will continue to have their invoices paid immediately, instead of after 14 days. 
 
Tesco claims the extension has been put in place to ensure suppliers are supported throughout the busy Christmas period and beyond. It will be interesting to see whether these improved payment terms endure beyond Covid-19. 

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