Businesses that supply to the NSW Government can register through the buy.nsw Supplier Hub portal to receive Faster Payments Terms.
Under the policy, businesses will be paid within five business days of central payment departments receiving a correctly rendered invoice for goods or services up the value of $1 million. Payments up to $10,000 can also be paid instantly.
Each month a list of registered businesses is shared with agencies participating in the Faster Payment Terms Policy. Agencies are given two weeks from the 20th day of each month to update their vendor master systems so that any future invoice from a registered business is identified for faster payment. There may be a delay of two to six weeks.
Registering your business for Faster Payments Terms is completed through your supplier profile on the buy.nsw Supplier Hub portal.
The buy.nsw Supplier Hub is where small businesses can register as a supplier to sell to the NSW Government, view opportunities, update business information, and register for Faster Payment Terms.
If you already have a supplier profile
- Log into your account at suppliers.buy.nsw.gov.au/login
- Select ‘Manage company details’ followed by ‘Company type and business identifiers’ from the list on the left hand side.
- Click on ‘Edit’ and tick the box to register for Faster Payments
If you do not have a supplier profile on Supplier Hub simply sign up sell here and you will given the option to join the Faster Payments register.
If you need help with registering for Faster Payments, contact buy.nsw at email@example.com or by calling 1800 679 289.