Fair Payment Code
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The Fair Payment Code (FPC)

  • The Fair Payment Code is a tiered system of Awards aimed at driving best practice and improving payment performance.  
  • The Fair Payment Code has Gold, Silver and Bronze Award categories underpinned by fair payment principles.  
  • The Fair Payment Code replaces the Prompt Payment Code. It is more ambitious, aspirational and robust.  

Healthy cash flow is critical for small business survival and growth. Late payments and long payment times disrupt the cash flow cycle and can prevent a business from paying its bills, potentially resulting in business failure. In 2023 15% of small businesses and medium sized enterprises cited cash flow and late payments as an obstacle to running their businesses. 

The Fair Payment Code encourages businesses across the UK to pay fairly and quickly.  Businesses apply for the Award tier which best suits them: Gold, Silver or Bronze. The system of Awards is aimed at driving best practice and improving payment performance. The three Awards are:  

  • Gold Award – for those firms paying at least 95% of all invoices within 30 days  
  • Silver Award – for those paying at least 95% of all invoices within 60 days, including at least 95% of invoices to small businesses within 30 days  
  • Bronze Award – for those paying at least 95% of all invoices within 60 days  

In addition, every business granted an Award agrees to abide by the Code’s principles of being Clear, Fair and Collaborative with their suppliers.  

Current Fair Payment Code awardees

The Fair Payment Code has replaced the Prompt Payment Code. It is more aspirational by supporting businesses which wish to improve payment practices and helping them move up from Bronze to Silver, and to Gold over time.    

The Fair Payment Code Awards are for two years, and every business needs to reapply for their Award at the end of each two-year period.  

There is a robust complaint system in place for businesses to highlight to the OSBC Awardees that are not meeting the requirements of their Award category (Gold, Silver or Bronze) or not following the principles of the Code.  

Please get in touch if you have a complaint concerning a FPC awardee