Finance Circular 2004/14
Discounts for prepayment and early payment
This circular provides guidance to Financial Management and Accountability Act 1997 (FMA Act) agencies to assist in assessing when it is appropriate to agree to either:
- prepay a contract to receive a discount before the goods or services have been performed or delivered; or
- make an early payment to receive a discount on the invoiced amount after the goods or services have been performed or delivered.
It also provides guidance to agencies on when to consider applying this discount policy.
© Commonwealth of Australia 2004
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