Favourable Payment Terms Policy
In terms of the Code 500 of the ICT Sector code, BT Communications Services South Africa (Pty) Ltd offers favourable payment terms of less than or equal to 15 days for the following classes of suppliers:
- Black owned businesses
- Black empowered businesses
- Black engendered business
- Who are Small Medium and Micro Enterprises (SMME’S)
Favourable payment terms means: Invoices from qualifying SMME’s to be paid within 15 days of a valid invoice being submitted.
Black owned business means: An entity that is at least 50.1% owned by black persons and where there is substantial management control by black persons. Ownership refers to economic interest, whilst management refers to the membership of any board or similar body governing the enterprise
Black Empowered businesses means: An entity that is at least 50.1% owned by black persons and where there is substantial management control by black persons.
Black engendered business means: An entity with at least 25.1% representation by black women within the black equity and management portion
“Black” is defined as in the B-BBEE Codes of Good Practice
“SMME” is defined as per the National Small Business Act as amended (Turnover less than R20 Million in the Business Services Industry, refer to comprehensive list attached)
All businesses that meet the above requirement are eligible for favourable payment terms. Businesses that meet the requirements are requested to forward the following information to the finance department at Presantha.firstname.lastname@example.org