The Fair Payment Code Awards reward businesses for adopting fair payment practices for their suppliers and small suppliers in particular. As well as having three Award categories, Gold, Silver and Bronze, the new Code includes a set of fair payment principles that every applicant business is required to sign up to. 

The Code is ambitious in setting high standards including an exemplar ‘Gold’ category for those businesses paying suppliers within 30 days. The Code is also aspirational and aims to support businesses to improve payment practices and encourages their transition to Gold over time. To ensure the Code is credible, there is a rigorous but relatively light touch application process, a two-year limit on Awards and a more robust approach to enforcement than the old Code. 

The Fair Payment Code is administered by the Office of the Small Business Commissioner (OSBC) on behalf of the Department for Business and Trade (DBT). 

The three Award tiers businesses can apply for are: 

• Gold Award – For businesses paying at least 95% of all invoices within 30 days.
• Silver Award – For businesses paying at least 95% of all invoices within 60 days, including at least 95% of invoices to small businesses (with fewer than 50 employees) within 30 days. 
• Bronze Award – For businesses paying at least 95% of all invoices within 60 days.

To be eligible for an Award, all applicants for a Fair Payment Code Award are required to abide by the Fair Payment Code principles, in addition to meeting the payment time requirements for each Award. This includes being Clear, Fair and Collaborative with their suppliers. Further details are set out in the application guidance. 

It is simple to apply, if you fill in the expression of interest form the OSBC will send you an application form and the guidance to support this. The EOI form is available here. 

We aim to process all applications within 10 working days. However, this is dependent on satisfactory receipt of references and required evidence for the Award level and could take longer at periods of higher demand.

You can complete the expression of interest form, outlining the nature of your enquiry or questions and a member of the OSBC team will respond directly.  

Full details of the required evidence are set out in the application guidance. For every application, businesses will need to provide: 

• Proof of UK registered address 

• Your standard contract terms 

• Two references from suppliers 

• Evidence of payment performance 

Yes, but you are required to provide the relevant evidence before an Award can be made. If you meet the criteria but are unsure of how to gather that evidence, the OSBC team can help you to understand how to get this information to support your application. 

The Fair Payment Code does not have a bearing on your requirements under the Payment Practices Reporting Regulations which are separate. However, PPR data can be used as supporting evidence for your application. Companies required to report under the regulations are not eligible to apply for a Code Award if they are failing to meet their PPR obligations. 

Business of any size can apply for the Awards as long as they have a registered UK address. Other eligible organisations include Universities, Community Interest Companies, Charities, Business Representative Organisations and Co-operatives as long as they meet the Award criteria. 

Local Authorities, NHS Trusts and Government Departments are not eligible to join the Code. 

Businesses can apply for any level of Award as long as they can provide evidence that they meet the Award criteria. Where applicants do not meet the Award criteria, they will automatically be considered for a lower Award should they meet those criteria or alternatively can be provided with an action plan to support them to attain their desired level. 

The Fair Payment Code Awards are for two years, and every business will need to reapply for their Award at the end of each two-year period. Applications are open from September-December each year and are awarded for the following two calendar years. Applications for the 2025/26 awards are now open. Applications for the 2026/2027 awards will be open from September 2025. The Awards and logos will be dated to indicate when businesses achieved their Award status and colour coded to indicate Award level. Guidelines on use of the Awards logo will be provided once Awards have been made. 

The application window for 2025/2026 Awards is now open.

Yes. Applications outside of that time are permitted, but Award length may be shorter as they are awarded for a maximum of two calendar years. If you apply between January and August 2025 for example, the Award will still be for calendar years 2025 and 2026.  

Feedback from consultation with stakeholders highlighted a number of issues with the Prompt Payment Code’s operation which impacted its effectiveness. A new Fair Payment Code will be more ambitious in setting higher standards, aspirational by supporting business improve payment practices and have more a more robust approach to compliance and enforcement. 

No. The Fair Payment Code is new, and all businesses will be required to apply individually. However, if you are complying with the Prompt Payment Code criteria and have provided evidence of your performance, this can be used to support your application, making it simpler. 

No. Applications for the Prompt Payment Code are now closed, and no further applications will be processed. Applications should now be made for the Fair Payment Code. 

Applications for the Prompt Payment Code are now closed. The Prompt Payment Code will cease to operate on 3 December 2024 when all companies are removed and the website closed. There is a transition period to allow Prompt Payment Code signatories time to apply for the Fair Payment Code. 

Prompt Payment Code signatories will not be automatically transferred to the new Code but are required to apply for the Fair Payment Code separately to ensure they are meeting the Code’s requirements. 

Those required to be Prompt Payment Code signatories for contractual reasons should instead apply to the Fair Payment Code going forward.  

The Fair Payment Code Silver Award is the equivalent of the Prompt Payment Code criteria and businesses meeting the Prompt Payment Code requirements should therefore be eligible for this level of Award at least as long as they are committed to the Fair Payment Code principles. 

All Prompt Payment Code signatories will be contacted and invited to now apply for the Fair Payment Code. There is a transition period in which to do so. Contracts going forward should stipulate being a Fair Payment Code Award recipient where they previously stipulated being a Prompt Payment Code signatory.  

Any level of award can be stipulated in a contract. However, the new application process is more rigorous and the implications of this need to be considered when linking a contract to a particular Award level. The Fair Payment Code Silver Award is the equivalent of the Prompt Payment Code criteria. 

Yes. But you must be aware that the new application process is more rigorous and the implications of this need to be considered when linking a contract to a particular Award level.