Date posted: 27th Feb 2025
One of the North’s leading independent accountancy and business advisory firms has received a prestigious accreditation for its ongoing commitment to delivering high standards of ethical payment practices.
Clive Owen LLP is among the first cohort of businesses accepted onto the new Fair Payment Code (FPC), which recognises best practice and driving improvements in payment performance.
Replacing the Prompt Payment Code, the FPC is administered by the Small Business Commissioner on behalf of the Department for Business and Trade (DBT).
Following a rigorous, evidence-based application process, Clive Owen LLP has been accredited by the FPC, which is awarded to organisations that pay at least 95% of all invoices within 60 days, including at least 95% of invoices to small businesses within 30 days.
Carl Wright, Partner and Sustainability Lead at Clive Owen LLP, said: “We are delighted to have been recognised as one of the first Fair Payment Code awardees, further validating and reaffirming our ongoing commitment to responsible business practice.
“We understand the crucial role that fair and prompt payments play in supporting the sustainability and growth of small businesses, which is why it is important for us as a firm to foster a culture of trust and reliability within our supply chain, benefiting the wider business community.”
Liz Barclay, Small Business Commissioner, said: “The Fair Payment Code is our response to all those suppliers who begged for a more aspirational, robust and ambitious approach to changing the business-to-business payment culture in the UK. It also gives a clear signal of intent on the part of Government.
“We want suppliers paid within 30 days with payment beyond the due date a rare event. We want longer contractual payment term to be recognised as potentially detrimental to vital supply chains. We want businesses of all sizes to commit to fair and quick payments and to avoid harmful disputes. This new Code will drive a better payments culture and benefit everyone.”
