NEWS

1284 accepted as signatory of Government’s Prompt Payment Code

George Oliver

Jun 14

2

min read

1284 has been accepted as a signatory of the UK Government’s Prompt Payment Code.

The scheme was established in 2008 and sets standards for payment practices between organisations and their suppliers.

It is administered by the Small Business Commissioner on behalf of the Department for Business and Trade (DBT). 

The Code covers prompt payment, as well as wider payment procedures. You can view the directory here.

The Small Business Commissioner is responsible for regulation and governance of the Prompt Payment Code and its signatories.

The Commissioner has the power to determine which companies become signatories and investigates complaints concerning any signatories.

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By signing up, you agreeing to receive email marketing communications from 1284.

In joining the Prompt Payment Code 1284 is agreeing to:

  • Pay suppliers on time
  • Give clear guidance to suppliers
  • Encourage good practice
  • Pay 95% of all invoices from small business suppliers within 30 days
  • Avoid any practices that have an adverse effect on the supply chain

1284 Managing Director George Oliver said: “As a small business, we know the importance of cash flow and the impact of slow payments.

“We think that paying our associates and suppliers promptly and within the agreed payment terms matters.

“It’s not only an ethical responsibility, but is economically beneficial for our associates, and therefore the wider East Midlands economy.

“Speed and certainty of payment helps businesses to grow.”

The acceptance came in the same week that 1284 joined more than 1,000 UK organisations in being accepted for the Good Business Charter.

GBC accreditation signposts customers and suppliers to organisations that have been recognised for their responsible business practices across 10 measures, ranging from staff pay to diversity in recruitment.

FTSE100 companies, partnerships, local authorities, universities, SMEs, charities, and sole traders all count among registered GBC organisations.

1284 is an award-winning strategic communications consultancy, specialising in telling the story of East Midlands innovation.

It was founded in July 2020. George is a CIPR Chartered PR Professional and a Fellow of the Institute of Consulting.

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