Supplier Incentive Service
The Supplier Incentive Service (SIS) is an early payment programme that gives suppliers the opportunity to be paid earlier than contracted terms. It also allows the council to improve its payment processes.
SIS gives you the option to be paid as soon as the invoice is authorised, ahead of your contractural payment terms. You'll need to pay a small, pre-agreed rebate which is applied as the invoice is paid. The rebate is proportionate to the number of days we accelerate the payment by. We aim to pay you on day 10. The rebate is only applied if the invoice is paid earlier than your contractural payment terms.
The benefits of SIS
We believe that strong supplier relationships are essential in achieving our strategic goals. We recognise early payment can make a significant impact on the growth and development of your business.
With SIS, you’ll benefit from:
- improved cash flow
- greater visibility across the council
- reduced time spent chasing payments
We’re working with Oxygen Finance; the leading provider of early payment programmes in the UK. They work with councils across the UK and thousands of suppliers participate in their early payment programmes.
You may receive:
- a phone call from Oxygen Finance to explain more about the programme
- an email with details about how to join the programme online
To find out more about the programme, you can:
- visit our Supplier Incentive Service webpage
- email firstname.lastname@example.org