Faster Payments

About Faster Payments

We understand that cash flow can be an issue for smaller businesses, and we do everything we can to remove barriers for access.

The Faster Payments Policy commits to paying eligible small businesses that do business with NSW Government within 5 business days.

Eligibility for Faster Payments

A small business is an Australian or New Zealand-based firm that has less than 20 full-time employees (or full-time equivalent).

Registered suppliers eligible for Faster Payments will be paid within 5 business days of central payment departments receiving a correctly rendered invoice for goods or services up to the value of $1 million.

Payments up to $10,000 can also be paid using a Purchase Card (PCard). Getting paid by PCard means you get paid instantly. There is also no need for a purchase order from an agency before you supply goods or services.

Registering for Faster Payments

You can register for Faster Payments through your Supplier Hub supplier profile.

If you already have a supplier profile, log in and follow these steps:

• Select 'Manage company details' followed by 'Company type and business identifiers' from the list on the left
• Click on 'Edit' and tick the box to register for Faster Payments
• Scroll to bottom of page and click 'Save'

If you are yet to register for Supplier Hub, registration is fast and easy. To get started, simply visit the buy.nsw Supplier Hub.

Your registration will automatically be created when you select the number of employees in your organisation. You can opt out of register at any time you choose by editing your account details.

The register is updated each month. At this time a list of registered businesses is shared with agencies participating in the Faster Payment Terms Policy. Agencies are given 2 weeks from the 20th day of each month to update their vendor master systems so that any future invoice from a registered business is identified for Faster Payment. There may be a delay of up to 6 weeks.

If you need help with registering for Faster Payments, email buy.nsw@customerservice.nsw.gov.au or call 1800 679 289.