This bill would introduce a system that aims to bring transparency to business-to-business payment terms and practices in New Zealand.

The bill would require organisations with more than $33 million in revenue, for two or more consecutive accounting years, to disclose their payment practices twice a year. Specifically, this would include:

· payment practices related to late and overdue payments

· practices related to the payment terms they set.

The bill aims to address feedback from small businesses that late payments and lengthy payment terms have harmed their business. Late payments can disrupt cash flow, cause unnecessary borrowing, and make it difficult for businesses to continue operating.

Tell the Economic Development, Science and Innovation Committee what you think

Make a submission on the bill by 11.59pm on 8 January 2023.

For more details about the bill:

· Read the full content of the bill

· Get more details about the bill

· What’s been said in Parliament about the bill?

· Follow the committee’s Facebook page for updates

· Read the bills digest

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