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Supplier Early Payment Solutions

Contract ID: RM6001

Start Date: 27/03/2018

End Date: 27/03/2021

Description

Synopsis: Suppliers can choose early payment in exchange for a discount against their invoice. The payment date and discount amount can be dynamically related.

 

Full description: Supplier early payment solutions (SEPS) enable your suppliers to choose to receive early payment for their invoices in exchange for a discount or charge against the invoice value. Using the dynamic discounting option, the supplier can choose the size of the discount relative to when they will be paid. This is a single-supplier agreement awarded to Taulia.

This agreement replaces the Government Banking Service (GBS) supply chain finance (SCF) system and CCS replaces HMRC as the contracting authority.

 

Benefits

  • Buyers can meet the appropriate standards for SEPS because the provider is pre-qualified as to their general suitability
  • The supplier has signed and accepted this agreement and terms and conditions of call-off. Only comments in square brackets [ ] can be amended as agreed by the supplier and buyer.

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Access

Read the attached guidance documents.This framework can be accessed by placing a call off from the framework using direct ordering (direct award) from the supplier.

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Savings

Savings are made as a result of the reduction in invoice values as a result of early payment for a supplier. The methodology for savings will be based on a calculation of the original invoice values versus the actual invoice value paid.

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Background

A replacement of the Government Banking Service (GBS) Supply Chain Finance (SCF) system was proposed with the Crown Commercial Service (CCS) replacing HM Revenue and Customs as the Contracting Authority.

The current GBS SCF system is utilised by NHS Business Services Authority (NHS BSA) to allow early payment of its suppliers delivering pharmacy services.

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Lot details

Lot Number Lot Name Lot Category Number of Suppliers Contract Expiry
1 Supplier Early Payment Solutions Construction 1 - click here to view suppliers 27/03/2021

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Framework Manager Contact Details

Paul Davies

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