Two new Procurement rules speed digitisation and payments
Two new Procurement Rules require faster invoice payment times and eInvoice uptake among mandated agencies.
“Cabinet has agreed to two new Procurement Rules (Rule 51 and Rule 51A). They will promote digitisation and help speed up cash flow and payment times for businesses supplying goods and services to government agencies,” says
Laurence Pidcock General Manager, New Zealand Government Procurement
Rule 51: eInvoicing capability
Rule 51A: Prompt payment times
“In September, New Zealand Government Procurement and our colleagues in the MBIE eInvoicing team, consulted with mandated government agencies on the proposed two new rules. We wanted to understand the current capacity of these government agencies to receive and send digital invoices and understand the volume of eInvoicing underway.”
“Based on this feedback Cabinet has agreed the two new rules and the timeframes for when they take effect,” says Laurence.
Ministers Lee (for Economic Development) and Bayly (Small Business and Manufacturing) are leading a joint initiative to require faster invoice payment times and eInvoice uptake among mandated agencies. It comes off the back of an announcement Minister Bayly made in February of his intention for stronger government requirements for eInvoicing in New Zealand and to improve payment times to small businesses.
Government proposing stronger requirements for eInvoicing in New Zealand - eInvoicing
The Government Procurement Rules are a fundamental instrument in New Zealand’s government procurement policy framework. They are the Government’s standards for good procurement practice. The eInvoicing initiative is separate to the current review of the Government Procurement Rules.
New rules mean faster payment times for small businesses - Beehive.govt.nz
Advice for government agencies - eInvoicing