Changes to B-BBEE Legislation in 2013 closed a loophole that allowed early payment terms for Black Owned businesses in exchange for Preferential Procurement points. The amendments meant that an organisation may only claim early payment terms from Supplier Development Beneficiaries. Therefore, the following applies to an invoice on which a claim for early payment is going to be made:
The invoice payable for goods or services must appear in an organisation’s TMPS;
Only the amount for early payment terms must reflect.
Enterprise & Supplier Development Services are available to assist with claiming early payments.