Australian Supplier Payment Code

We support prompt payments for small business!

We understand that good cashflow and working capital can help your business to thrive. Prompt payments support business viability and can make budgeting and planning easier.   

That's why we recently made a commitment to paying small business within 30 days. The Australian Supplier Payment Code is a Business Council of Australia initiative and is a voluntary, industry-led initiative that honours the importance of prompt and on-time payment for small business suppliers through compliance with a set of best-practice standards.

This obligates signatories of the code to:

checkPay Small Business suppliers within 30 days of receipt of a correct invoice, or on shorter terms

checkPay all suppliers on time

checkProvide clear guidance about payment procedures to suppliers

checkWork with suppliers to improve invoicing and payments practices and technologies (e.g. portals, electronic invoicing)

checkPublish a process for resolving payment disputes and complaints

checkReport on company policies and practices in place to comply with the Code

 

You can find more details about this on the Business Council of Australia website

 

To qualify as a small business, suppliers must:

  • Have an Australian ABN
  • Have a turnover no greater than $10 million in the last financial or calendar year (excluding businesses that’re part of a consolidated group of companies) substantiated by audited accounts

Our validation process is based on:

  • A copy of audited accounts with evidence of total turnover less than AU$10 million in the financial/calendar year, or
  • A statement of total turnover from an independent accounting firm certified as either:
    • Institute of Public Accountants
    • CPA Australia
    • Chartered Accountants Australia and New Zealand
 

If a supplier qualifies as a small business, payment terms will be updated from Origin’s standard payment terms of 45 Days End of Month to 30 Net. Please also note, Supplier payment sites currently on less than 30 days will remain unchanged.

For more information please contact Origin’s Procurement team on Origin.Procurement@Originenergy.com.au.