Australia: Commonwealth adopts new procurement payment policy, encourages states to do the same

07 Nov 19: Commonwealth government agencies will soon be expected to pay e-Invoices to suppliers within five days, or else pay interest on late payments. Starting from January 1, the new payment policy will apply to agencies that deliver and receive invoices electronically with suppliers, for contracts worth up to $1 million. However, the current maximum 20-day payment term for instances where e‑Invoicing is not used will still be valid. The Department of Finance and Services Australia will be the first Commonwealth agencies to accept e-Invoices, with other agencies following …