Mandatory for non-corporate Commonwealth entity (NCE) procurements valued over $4 million (GST inclusive), including panel arrangements.
NCEs and Reporting Entities will be provided a transition period from 1 July 2021 to 30 September 2021 to appropriately adapt their procurement processes and payment systems to comply with the Payment Times PCP.
Note: It is not mandatory to apply the policy to NCE procurements where paragraph 2.6 of the Commonwealth Procurement Rules has been used, or when one of the limitations for the application of the policy applies.
Corporate Commonwealth Entities (CCEs) and Commonwealth companies are encouraged to apply the policy.
Definition of Reporting Entity: Payment Times Reporting Act 2020.
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Commonwealth Government Procurement Connected Policies information available at: https://www.finance.gov.au/government/procurement/commonwealth-procurement-rules/procurement-framework