National Framework for the Implementation and Operations of a Supplier Early Payment Scheme

Oldham Council operates an Early Payment Scheme (EPS), whereby discounts are taken from invoices in exchange for early payment. The discount is calculated dynamically, and is proportionate to how many days the payment is accelerated (number of days between invoice receipt and invoice payment sent). The discount is only taken if payment acceleration is achieved. The purpose of such a programme is not only to generate new income for the Council but also to help suppliers by injecting much needed liquidity into the co...