The NSW State Government has a policy requiring government agencies to pay outstanding invoices within 30 calendar days or pay penalty interest for late payment.
What is the City’s policy about paying invoices submitted by small businesses within 30 days?
Answer by the Lord Mayor
The City’s Accounts Payable Policy establishes a framework for processing invoices and payments in accord with legislative requirements and to ensure best practice in our business operations.
The City’s standard terms of trade for the payment of suppliers are 30 days from the date of invoice, terms which are reiterated in our standard contract conditions and referenced within our issued purchase orders.
In the event where 30 days is inappropriate for a particular supplier, which is uncommon, the standard terms may be varied after due consideration and with the approval of the Procurement Manager.
Provided that goods and services are supplied of an appropriate standard, the City’s payment processes are geared to ensure payment is made within that approved payment term.