Early payment service
We are inviting you to become a member of its fast, fair and fuss-free early payment programme
A unique way to get paid early
We are offering accelerated payment with no factoring, no borrowing, no credit checks and no complicated processes.
Faster payment
Fast-tracked invoice processing and dedicated contacts for when you need to get in touch.
Fair and transparent pricing
No sign up or admin costs, just a small percentage fee deducted from each invoice based on how early you are paid.
Fuss-free sign up
Join in 2 minutes, with no extra set up required to get started. Just simple, straightforward, early payment.
How it works
The Early Payment Service enables your invoices to be paid ahead of contractual payment terms in exchange for a pre-agreed rebate. The rebate is applied dynamically as the invoice is paid and is proportionate to how many days your payment is accelerated by.
- Submit your invoice
- Wait for your invoice to be approved by the Council. This is targeted at day 10
- Your invoice is paid as soon as it is approved with a small rebate deduction
- You will receive a debit note to help balance your accounts
A better way of doing business with us
Healthier cash flow
- Pre-approved access to cash with no borrowing, no credit checks and no personal guarantees to worry about
- With funds in your account earlier, you're in control of your own money
- Access to funds you can invest in other important areas of your business
Peace of mind
- With reliable early payment, your monthly outgoings are covered
- No more chasing late or lost invoices, losing valuable man hours within your business
- Dedicated supplier support based in the Council available to help whenever you need
A better working relationship
- With fewer queries on invoice payment, you've got more time to talk about the things that matter to your business
- Become a recognised Early Payment Service supplier, raising the profile of your business within the Council
- Be on the side of your customer and become part of an important initiative that helps protect vital services for the local community
How early payment has helped other businesses
Don't just take our word for it. Hear what other businesses like you have said about the early payment programmes and how it has helped their businesses.
Being part of the programme has enabled us to focus on growth. We're investing more time into attracting new residents and staff rather than chasing invoices.
How do we compare to other financing options?
Early Payment Service offers earlier payment in exchange for a small percentage fee taken off the invoice value, to cover the cost of the programme. To ensure it's fair, the percentage amount is tied to the number of days your payment is accelerated: no acceleration means no fee.
| Early payment programme | Invoice Factoring | Business Loan | Business credit card | |
| Service charges | None | Monthly service fees Early payment fees Arrangement fees |
Late payment charges Administration fee |
Late payment charges Administration fee Inactivity charges Cash withdrawal |
| Impact on credit rating | No | Dependent on provider | Yes - pre-application. Missed payments can accrue and be noted on your credit history |
Yes - pre-application. Missed payments can accrue and be noted on your credit history |
| Eligibility |
Pre-approved. Sign up in two minutes |
Risk assessment based on range of factors including the volume and size of your invoices, payment terms, your company history and track record. | Lenders will look at your credit rating and assess your business and personal tax returns, bank statements, financial statements and legal documents | Lenders will look at your credit rating and other checks dependent on the size and financial strength of your business. |
| Risk | None. No debt, interest, risk of missed repayments or impact of your credit rating. | If clients don't pay you may have to buy back invoices. Your reputation may suffer if the factoring company doesn't align to your company's values. |
Missed payment cost can incur fees and negatively impact your credit rating. Long-term loan could restrict the monthly cash |
Missed payments can incur fees and negatively impact your credit rating. Some businesses won't accept payments via card |
| Cost | Dynamic % fee taken from each invoice dependent on the number of days payment is accelerated. | Pre-agreed discount taken from each invoice - usually between 0.5% and 5% of the amount loaned. Plus service charges |
Interest rates vary but typically the APR is between 5% - 10%. Plus late payment fees |
Interest rates vary but typically the APR is in the range of 15% - 20%. Plus late payment fees |
Here to help
Is the programme mandatory?
No, a core principle of Early Payment Service is that it is fair for everyone. This means it is a voluntary initiative that suppliers are invited to join.
Does it cost anything to join?
The programme is free to join. There are no service charges, admin fees or hidden charges. A small percentage fee is deducted from each invoice based on the number of days your payment has been accelerated.
How does the dynamic fee work?
To cover the cost of the programme, a small percentage fee is deducted from each invoice. This fee is called the Early Payment Rebate (EPR). The EPR is dynamic, which means the amount is dependent on the value of the invoice and number of days your payment is accelerated.
Is this invoice factoring?
No, the programme is not a form of factoring. Your invoices are not being sold to a third party, and all payments will continue to come directly from GCC.
How will early payment impact the invoice submission process?
You will continue to submit your invoices electronically as normal, just to a new email address.
You will be paid by GCC when the payment is authorised instead of waiting for the payment due date.
How will I know what I've been charged?
The payment process is transparent and the relevant information (the percentage fee and the number of days your payment has been accelerated by) will be issued on a debit note alongside your payment.
Will my existing terms and conditions change?
The terms and conditions for the Early Payment Service >will only vary the payment terms applied to your contracts, but in all other respects, your contracts remain in full force and effect.
Who is Oxygen Finance?
We have partnered with Oxygen Finance as the leading expert at providing payment process improvements to government procurement offices and to optimise its payment performance through consultancy, supplier engagement and technology.
Oxygen Finance have signed up over 3,000 suppliers to its Clients' early payment programmes, with over £2.5bn worth of invoices receiving early payment.