The Fair Payment Code (FPC) sets standards for payment practices and best practice and is administered by the Small Business Commissioner on behalf of the Department for Business and Trade (DBT).
Coventry-headquartered Deeley Construction achieved the Gold Award in recognition of its prompt payment to suppliers and partners.
It is the top tier of the standard and is only awarded to companies that pay at least 95 per cent of invoices within 30 days.
The award is for two years and assesses three months of data from contractors and suppliers, with independent checks carried out by the awarding body with small, medium and large suppliers.
The family business delivers a wide range of projects across the Midlands in sectors including later living, residential, commercial and education.
Amanda Deavy, Group Financial Controller at Deeley Group, said: “It is fantastic to have achieved the Gold Standard, as a company we recognise the importance of keeping our valued supply chain paid on time.
“The process took several months, including independent checks with a range of our suppliers, but it’s great to see that hard work come off.
“The gold standard requires at least 95% of all invoices to be paid within 30 days of the date of the invoice.
“We work with a lot of local suppliers, so maintaining high payment standards is vital for supporting the cash flow and growth of businesses in the local economy. Achieving this standard sends a clear message that if you work with Deeley Group, you can have confidence that you will be paid on time.
“I’m personally proud to work for a company that places such importance on supporting its supply chain, its staff and the communities in which it operates.”
Matthew Lynch, Commercial Director at Deeley Construction, said: “We recognise the only way we can be successful on site is through our key partnerships with suppliers and other partners.
“Respect and integrity are the heart of everything we do, they are our core values, so making sure suppliers are paid in a timely manner for the works they have carried out is essential.
“We are extremely proud we can showcase this commitment through this award.”
