Thank you for visiting the Prompt Payment Code website.

The Prompt Payment Code (PPC) sets standards for payment practices and best practice and is administered by the Chartered Institute of Credit Management. Compliance with the principles of the Code is monitored and enforced by the Prompt Payment Code Compliance Board. The Code covers prompt payment, as well as wider payment procedures.

Information A letter from the Minister for Small Business, Consumers and Corporate Responsibility and the Chief Executive of the Chartered Institute of Credit Management has been sent to all signatories. This letter confirms the date the Statutory Duty to Report will come into force, clarifies the issue of 'exceptional circumstances' and highlights the success of the Prompt Payment Code to both suppliers and signatories alike. Click here to read the letter. Should you have any questions, please contact us.

Click here to read the full press release issued by BEIS and CICM.


"Small businesses are the backbone of our economy and this Government's Industrial Strategy is building a Britain in which they can continue to thrive. Over the last 5 years the amount owed to smaller businesses in late payment has more than halved but we want to see payment practices improve even further.

The Prompt Payment Code sets the gold standard in payment terms and plays an important role in bringing about a culture change in payment practices. This, alongside a package of measures taken forward by government and industry, demonstrates our commitment to tackling late payment.

Alongside the Code, businesses can use the newly introduced Payment Practices Reporting website to find out more information about the payment behaviour of larger businesses and the Small Business Commissioner website to find out further advice on resolving payment issues."

Andrew Griffiths MP - Minister for Small Business, Consumers and Corporate Responsibility

Code signatories undertake to:
1, Pay suppliers on time
  • within the terms agreed at the outset of the contract
  • without attempting to change payment terms retrospectively
  • without changing practice on length of payment for smaller companies on unreasonable grounds
2, Give clear guidance to suppliers
  • providing suppliers with clear and easily accessible guidance on payment procedures
    (click to see the 'Treating Suppliers Fairly' guide)
  • ensuring there is a system for dealing with complaints and disputes which is communicated to suppliers
  • advising them promptly if there is any reason why an invoice will not be paid to the agreed terms
  • by requesting that lead suppliers encourage adoption of the code throughout their own supply chains

Additionally, signatories undertake to pay suppliers within a maximum of 60 days* (in line with late payment legislation requirements), to work towards adopting 30 days as the norm, and to avoid any practices that adversely affect the supply chain.


* Paying invoices within 60 days is a requirement (this is met by paying 95% of invoices within this period), unless there are exceptional circumstances. Exceptional circumstances might include, for example, instances where a company is able to demonstrate that they apply different terms to the benefit of their smaller suppliers (e.g. that they pay all of their small suppliers in a shorter period).


The Code Compliance Board will have the remit to investigate and, if need be, act when a term in a contract exists or changes in a way that a supplier claims to be grossly unfair.

Click 'Apply' to become a signatory to the Prompt Payment Code. Apply
The benefits:
  • If you pay promptly, then it's a real benefit to your supplier and potentially to you, the customer, as you could benefit too by receiving more favourable pricing or service which could make you more competitive.
  • Once approved, you can use the PPC logo on your documentation and website to show that you are serious about good payment practice.
The Prompt Payment Code is supported by:
The Chartered Institute of Credit Management (CICM) is the largest professional credit management organisation in Europe. It represents the credit profession across trade, consumer and export credit, as well as in related activities such as collections, credit reporting, credit insurance and insolvency. Visit for more cashflow and credit management advice.   twitter #promptpayment
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