Getting paid within 30 days
What is the Australian Supplier Payment Code?
The Australian Supplier Payment Code is a code of practice that was created to help small business get paid on time.
The code of practice is a voluntary initiative and organisations who sign up to it agree to pay small business suppliers on time.
The Victorian Government has signed up to this code and any business, not-for-profit or government organisation can sign up at any time.
Some of Australia’s major businesses have also signed up to the code. Qantas, Coca-Cola, Telstra, Rio, Lendlease, Coles Group, BHP and Energy Australia are now bound by the code.
How to sign up to the code
If you are a large organisation that deals with small business suppliers, paying them on time helps them to thrive and meet the daily costs of running the business. It’s also good for the local economy.
Any business operating in Australia can sign up and pledge to pay their small business suppliers by completing the online supplier payment code form.
Summary of what big business commits to
The code is administered by the Business Council of Australia and includes a process to help you deal with complaints and disputes about payment times.
In summary, signatories to the code commit to:
- paying small business suppliers within 30 days (subject to conditions)
- paying all suppliers on time
- providing clear guidance about payment procedures to suppliers
- working with suppliers to improve invoicing and payments practices
- implementing a process for resolving payment disputes and complaints
- undertaking basic reporting on company policies and practices to comply with the code
For more details visit the Australian supplier payment code site.