Greensill Statement on Payment Terms in Australia

6th May, 2020


As Lex Greensill stated earlier this year, Greensill will not allow our supply chain finance (SCF) facilities to be used by Australian clients to extend payment terms to SME suppliers beyond 30 days. We will discontinue the use of our SCF facilities to clients who use our SCF facilities in this way.

Greensill helps suppliers get early access to the money they are owed – something that is more important than ever in the current climate.

In February, we informed all of our Australian clients that we expected compliance with our public statement to not let clients use Greensill’s SCF to push out payment terms to SME suppliers beyond 30 days. We are proud to say that virtually all of Greensill’s clients in Australia are fully compliant with our statement for SCF facilities provided by Greensill.

Greensill has allowed a period for the remaining clients to complete their internal reviews stemming from our request. We have given formal notice to those clients that their SCF facilities will be discontinued unless they ensure that they do not use our SCF facilities to push out payment terms to SME suppliers beyond 30 days.


< Back to News

Visionary, Bold, Disruptive

Each month, Greensill’s team of experts contribute to the latest insights and analysis, setting the agenda and leading the discussion on unlocking capital so you can put it to work.

Whitepaper

22nd April, 2020

Drive to Survive: Funding the Automotive Future

Covid-19 and regulatory pressure present incredible challenges for the automotive industry, but investments in the future of transportation offer a path forward. Learn how Greensill is helping to fund the automotive future.

Whitepaper

6th March, 2020

Spotlight on Suppliers

Greensill founder and CEO Lex Greensill understands the difference a steady stream of reliable working capital can make to a small business. Hear from the businesses and people who rely on Greensill to make finance fairer for all.

Whitepaper

20th January, 2020

Revolutionising Pay Day

Technology is revolutionising when and how we are paid for the work we do, saving billions of pounds in needless loan fees and ending an epidemic of pay day anxiety.

Sign up to monthly insights in our Newsletter

Subscribe to the Greensill monthly newsletter to discover the latest in news, views and insights in the world of balance sheet optimisation, working capital and supply chain finance. Join the discussion today.