Prompt payment of BIS suppliers
BIS aims to reduce invoice payment times to 5 working days and all valid goods and services invoices received are paid as soon as they have been authorised by the BIS officials responsible for the contract. We are applying this policy to all suppliers of goods and services but will not be changing our existing contractual terms and conditions.
Our website includes guidance for suppliers on the correct way to submit an invoice.
The Prompt Payment Code is another critical step in a series of structured initiatives devised by the government with The Institute of Credit Management (ICM) to tackle the crucial issue of late payment and help small businesses especially.
Prompt Payment Code (external link)
