Time Taken for Payment of Invoices for Contracted Goods and Services Provided to Government

Debated in Parliament on 4 Mar 2024.

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Leong Mun Wai asked for the percentage of invoices for contracted goods and services paid within five, 10, and 30 days over the last three years, separated for those above and below $5,000.
Lawrence Wong stated that most government credit terms are 30 days, with about 98% of invoices paid within credit terms, and smaller invoices below $5,000 are prioritised for earlier payment.
For invoices below $5,000, about 13% were paid within five days, 49% within 10 days, and 99% within 30 days over the last three years.
For invoices $5,000 and above, about 17% were paid within five days, 28% within 10 days, and 98% within 30 days over the last three years.

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Leong Mun Wai

Mr Leong Mun Wai asked the Deputy Prime Minister and Minister for Finance for each year of the last three years, what percentage of invoices for contracted goods and services provided to the Government, above and below $5,000 respectively, were paid within (i) five days (ii) 10 days and (iii) 30 days.

Lawrence Wong

Most credit terms for Government procurement contracts are set at 30 days. About 98% of invoices for Ministries and Organs of State have been paid within credit terms for the last three years. For small-value invoices below $5,000, we have prioritised efforts to pay earlier than the usual 30-day credit terms.

For invoices below $5,000, for Ministries and Organs of State, about 13%, 49% and 99% were paid within five days, 10 days and 30 days respectively for the last three years.

For invoices $5,000 and above, for Ministries and Organs of State, about 17%, 28% and 98% were paid within five days, 10 days and 30 days respectively for the last three years.

Summary written by AI (learn more)

Leong Mun Wai asked for the percentage of invoices for contracted goods and services paid within five, 10, and 30 days over the last three years, separated for those above and below $5,000.
Lawrence Wong stated that most government credit terms are 30 days, with about 98% of invoices paid within credit terms, and smaller invoices below $5,000 are prioritised for earlier payment.
For invoices below $5,000, about 13% were paid within five days, 49% within 10 days, and 99% within 30 days over the last three years.
For invoices $5,000 and above, about 17% were paid within five days, 28% within 10 days, and 98% within 30 days over the last three years.

Questions identified by AI (learn more)

Time Taken for Payment of Invoices for Contracted Goods and Services Provided to Government | PAPERCUTS

Time Taken for Payment of Invoices for Contracted Goods and Services Provided to Government

Debated in Parliament on 4 Mar 2024.

Summary written by AI (learn more)

Leong Mun Wai asked for the percentage of invoices for contracted goods and services paid within five, 10, and 30 days over the last three years, separated for those above and below $5,000.
Lawrence Wong stated that most government credit terms are 30 days, with about 98% of invoices paid within credit terms, and smaller invoices below $5,000 are prioritised for earlier payment.
For invoices below $5,000, about 13% were paid within five days, 49% within 10 days, and 99% within 30 days over the last three years.
For invoices $5,000 and above, about 17% were paid within five days, 28% within 10 days, and 98% within 30 days over the last three years.

Questions identified by AI (learn more)

Full Transcript

Leong Mun Wai

Lawrence Wong

For invoices below $5,000, for Ministries and Organs of State, about 13%, 49% and 99% were paid within five days, 10 days and 30 days respectively for the last three years.

For invoices $5,000 and above, for Ministries and Organs of State, about 17%, 28% and 98% were paid within five days, 10 days and 30 days respectively for the last three years.

Summary written by AI (learn more)

Leong Mun Wai asked for the percentage of invoices for contracted goods and services paid within five, 10, and 30 days over the last three years, separated for those above and below $5,000.
Lawrence Wong stated that most government credit terms are 30 days, with about 98% of invoices paid within credit terms, and smaller invoices below $5,000 are prioritised for earlier payment.
For invoices below $5,000, about 13% were paid within five days, 49% within 10 days, and 99% within 30 days over the last three years.
For invoices $5,000 and above, about 17% were paid within five days, 28% within 10 days, and 98% within 30 days over the last three years.

Questions identified by AI (learn more)

Time Taken for Payment of Invoices for Contracted Goods and Services Provided to Government

Summary

Questions Identified

Full Transcript

Leong Mun Wai

Lawrence Wong

Summary

Questions Identified

Time Taken for Payment of Invoices for Contracted Goods and Services Provided to Government

Summary

Questions Identified

Full Transcript

Leong Mun Wai

Lawrence Wong

Summary

Questions Identified