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Fair Payment Code

1. Purpose

1.1 The Fair Payment Code (FPC) sets out national standards for ethical and timely payment practices.

Administered by the Office of the Small Business Commissioner (OSBC), the FPC replaces the Prompt Payment Code and supports improved payment performance across UK businesses.

1.2 The FPC includes three award tiers – Gold, Silver and Bronze, each promoting fair, clear, and collaborative supplier relationships. Value Match is proud to hold the Gold Award, recognising that 95%+ of all invoices are paid within 30 days.

1.3 As part of our commitment to positive economic and social outcomes, we actively support small and medium businesses (SMEs), ensure a resilient supply chain, and embed responsible payment culture in every aspect of our operations.

2. Objectives
2.1 We are committed to:
2.1.1 Paying suppliers on time:

  • Within the agreed terms at the outset of the contract.
  • Without making retrospective changes to payment terms.
  • Without unjustly delaying payments to smaller or SME suppliers

2.1.2 Providing clear payment guidance:

  • Offering transparent and easily accessible guidance to suppliers on our payment procedures.
  • Promptly advising suppliers of any invoice issues or disputes.
  • Communicating our expectations for invoice accuracy and timeliness.

2.1.3 Encouraging ethical practice:

  • Promoting good payment practices throughout our supply chain
  • Leading by example and encouraging our partners to work towards higher payment standards

3. Standard Payment Terms
Our standard payment terms are 30 days from receipt of a valid invoice.

To be considered valid, an invoice must:

  • Be submitted in line with contractual timelines.
  • Accurately reflect goods/services delivered to agreed standards.
  • Quote the correct purchase order reference
  • Include the supplier name, invoice date, contact details, and bank details.
  • Be submitted to finance@value-match.co.uk

Suppliers must notify us of any changes to their contact or bank details no less than 4 weeks before the change takes effect.

4. Payment Methods
We process payments via BACS (Bank Automated Clearing System) only. Value Match is not responsible for delays resulting from external banking issues or processing failures beyond our control.

5. Disputes and Complaints

  • If an invoice is disputed, we will notify the supplier promptly and explain the issue.
  • Payment will resume once the dispute is resolved, under the original agreed terms.
  • Suppliers with payment-related concerns can contact us directly at finance@value-match.co.uk.

By upholding the Fair Payment Code Gold Award, Value Match ensures our services are delivered with integrity, transparency, and respect for the suppliers who help us create social and educational impact.