NSW Government agencies must pay registered small suppliers within 5 business days of receiving a correctly rendered invoice.
NSW Treasury has issued the Faster Payment Terms policy.
You must pay registered small suppliers within 5 business days for goods and services, regardless of the invoice amount.
The scope and application are the same, however the $1m invoice limit has been removed.
The policy applies to all NSW Government agencies except state-owned corporations, universities, Crown Land managers and commons trusts.
For more details, refer to TPG24-32.
