In an endeavour to support the prompt payment of small businesses, the Business Council of Australia has led the development of the Australian supplier payment code.
The code is a voluntary initiative to ensure small business suppliers are paid promptly and on time.
The code commits signatories to:
• pay eligible Australian small business suppliers on time and within 30 days of receiving a correct invoice, and
• help suppliers implement new technologies and practices to speed up invoicing.
For more information, and to identify businesses who have signed up to the code, go to: https://www.supplierpaymentcode.org.au/