The 2013 amendments to the Generic Codes closed a loophole that allowed early payment terms for ‘Black’-owned businesses in exchange for Preferential Procurement points. The amendments mean 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 guide organisations in allocating their spend within this element.