How the Supplier Incentive Scheme works
The Suppler Incentive Scheme is an early payment programme that gives suppliers the opportunity to be paid earlier than contracted terms. It also allows us to improve our payment processes.
The Supplier Incentive Scheme gives you the option to be paid as soon as the invoice is authorised, ahead of your 30-day terms. You'll need to pay a small, pre-agreed rebate which is applied as the invoice is paid. The rebate is proportionate to the number of days we accelerate the payment by. We aim to pay you on day ten. The rebate is only applied if the invoice is paid earlier than 30 days.
The benefits of the Supplier Incentive Scheme
We believe that strong supplier relationships are essential in achieving our strategic goals. We recognise early payment can make a significant impact on the growth and development of your business.
With the Supplier Incentive Scheme, you'll benefit from:
- Improved cash flow
- Greater visibility across the council
- Reduced time spent chasing payments
Our partner - Oxygen Finance
We're working with Oxygen Finance, the leading provider of early payment programmes in the UK. They collaborate with councils across the UK and thousands of suppliers participate in their early payment programmes.
Next steps
You may receive:
- A phone call from Oxygen Finance to explain more about the programme
- An email with details about how to join the programme online
To find out more about the programme, you can:
