ABC Traders decides to use a third-party facilitator to distribute Enterprise Development funds to Beneficiaries. The money to the third-party facilitator was transferred two weeks before its financial year ended in February 2023. However, the third-party facilitator only transferred the funds to the end Beneficiaries at the end of March 2023.
Q | When using the services of a third-party facilitator, when does Enterprise Development spend considered a claim? Is it when the third-party facilitator receives the funds or when the end Beneficiary receives the funds?
A | An Enterprise Development contribution is only considered spend when it reaches the end Beneficiary. Therefore, in this instance, where the third-party facilitator distributed the funds outside the Measurement Period, ABC Traders may only claim the amount paid out in March 2023 in the next Measurement Period.
Enterprise & Supplier Development Services are available to assist Members with understanding Third Party Facilitation.