NQ Pollie questions big coal on new payment terms

Posted July 14, 2015

George Christiansen

Member for the Mackay based seat of Dawson George Christiansen has rallied against moves by coal miner BMA to force extended terms of payment on it suppliers.

BMA has introduced a default policy of paying suppliers 60 days after receipt of invoice, a policy relaxed by agreement with some individual suppliers.

“While I appreciate BMA may relax this new rule for those who are unable to live with it, I can’t see how a major multinational can ask local companies for 60-day terms when those same locals are unable to get away with 60-day terms from their suppliers,” Mr Christiansen said.

“When a single business refuses or is unable to remain within traditional trading terms of 30 days, it has a flow-on effect through the business community and puts other businesses under pressure.

“It’s one thing to ask suppliers to sharpen their pencil, which the big mining companies have already done, but we don’t want to be in a situation where small business operators are being asked to finance the operations of a big mining company.”

Leave a Reply

nine × = 63