Supplier Payment Policy

Commerce Ballarat is a signatory to the Business Council of Australia’s Supplier Payment Code This is a voluntary, industry-led initiative that enshrines the importance of prompt and on-time payment for small business suppliers through compliance with a set of best-practice standards.

The Code commits Commerce Ballarat to the following payment policies and practices:

PROMPT AND ON-TIME PAYMENT

  1. Pay eligible Australian small business suppliers within 30 days of receipt of a correct invoice or receipt of a correct product from the supplier (whichever is the later), or on mutually agreed terms, or on terms that are consistent with a standard industry practice.
  2. Pay suppliers on-time, following receipt of a correct invoice and receipt of a correct product.

WORKING WITH SUPPLIERS 

  1. Provide clear guidance to suppliers about the signatory’s payment procedures.
  2. Work with supplier businesses, where practicable, to apply technologies and practices that will improve the efficiency and accuracy of invoicing and payment processes (eg online portals, electronic invoicing, Electronic Funds Transfer, payment cards, etc).

COMPLIANCE

  1. Put in place clear, fair and efficient processes for dealing with complaints and disputes about payment times and practices (eg create a point of contact, issue clear procedural guidelines, set timeframes for the investigation and response, report on actions taken).
  2. Publish a set of policies and practices that give effect to the signatory’s commitments under the Code on the signatory’s website.

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COMMERCE BALLARAT PAYMENT PROCEDURES:
  • Supplier to submit invoice to accounts@commerceballarat.com.au
  • Invoice to include Business name, ABN, Bsb and Account number
  • Commerce Ballarat will endeavour to pay within the first 2 weeks of receiving a supplier’s invoice with correct banking details and no later than 30 days
  • For any payment issues contact accounts@commerceballarat.com.au or 5333 3233