Payment Terms
1. Send all invoices to [email protected] to ensure prompt attention.
2. All orders must be issued on separate invoices. Invoices covering multiple orders will not be accepted.
3. Invoices should contain or conform to the following:
- Correct job address
- Your bank details
- Correct ABN number
- Purchase Order number
- Correct PO amount
- Made out to Surepaint PTY LTD
- PDF document
Invoices that do not conform to the above will be returned.
4. Invoices with amount in excess of the P.O will not be paid without prior written authority from Surepaint Pty Ltd.
Note: Completed works includes the rectification and repair of any defects associated with the works performed by the contractor. In the event the contractor has too many outstanding defects we reserve the right to hold payment until the defects in question are completed.
5. Specify preferred Payment Schedule
- Regular Payment Schedule
- Express – 24 hours
- Express – 7 days
Invoices without specified payment schedule will default to regular schedule
For regular payment schedules, Invoice cut-off time and date is every Thursday, 5 PM. Invoices received after this time will not be processed until the next pay cycle. Invoices will be evaluated and verified the next day, Friday, 8 AM to 10 PM.
For express payment schedules, invoice cut-off time is 5 PM of the current day, evaluated and verified 8 AM to 10 AM the next day.
Invoices sent prior to completion in order to meet cut off dates will not be accepted. Invoices are to be sent on completion of work or if the job has reached a stage of 50% completion at the time of issuing the invoice if the job is valued over $10,000.
Part payments will only be paid for jobs over $10k in the way of a 50% stage payment.
Payment schedule notices are sent for every processed invoice
Regular Payment Schedule
- Invoices submission cut-off is every Thursday by 5pm
- Processed the next day (Friday)
- Payment made in 14 days after (falls on a Friday)
Express Payment Schedule
- 24 Hour Payment – invoice is processed and verified the next day after submission. Payment for approved invoices will be made within 24 hours of Payment Schedule notice. Express payment charge of 7.5% of invoice amount will be created.
- 7 Days Payment – invoice is processed and verified the next day after submission. Payment for approved invoices will be made within 7 days of Payment Schedule notice. Express payment charge of 5% of invoice amount will be created.
