Setting a good example: The Welsh Government's Prompt Payment Policy

1st Aug 2016
Setting a good example: The Welsh Government's Prompt Payment Policy

From today, The Welsh Government are adopting a Prompt Payment Policy.

In an email sent this morning to subscribers of the Sell2Wales service, the Welsh Government states that they will aim "to pay within five working days of receiving a correctly completed invoice".

They have also issued a list of steps suppliers need to adhere to in order for their payment to be processed this quickly - but the list seems reasonable and organised. Invoices will need:

  • Valid Purchase Order (PO) number and invoice numbers
  • Welsh Government as the addressee
  • Date of invoice
  • Supplier name, contact details and bank details
  • Description of the goods/ works or services
  • Name of Welsh Government contact
  • Correct Net and Gross values (include VAT and VAT number where applicable)

Full details are available as a Word doc on the Sell2Wales website here.

They cite that their payment policy supports the principles of The Confederation of British Industry (CBI) prompt payment code, who states that payment must be within 60 days, ideally 30. Therefore with an aim of 5 working days the The Welsh Government is certainly setting the bar very high indeed and making themselves seem like an ideal client to work for.

 

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