Gold for Team RED!! Well done all. Responsible Corporate Citizenship is taken seriously at RED – it’s in our ‘ESG DNA’. We have now achieved the GOLD Award standard under the Small Business Commissioner’s Fair Payment Code.

The new Fair Payment Code has been launched to encourage businesses across the UK to pay promptly.
The tiered system of Awards is aimed at awarding best practice and driving improvements in payment performance. The three Award tiers 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.
The new Fair Payment Code replaces the Prompt Payment Code. It will be 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.