Terms of reference
Pursuant to Part 3 of the Australian Small Business and Family Enterprise Act 2015, the Australian Small Business and Family Enterprise Ombudsman will be conducting its first self-initiated inquiry into payment times and practices. As part of this Inquiry, the Ombudsman will look at the following:
- The practice of corporations setting payment terms particularly for small businesses;
- Trends in payment terms and late payment with emphasis on commercial dealings between small business with large corporations;
- The effects and impacts that long payment times have on small businesses; and
- Potential regulatory and market-based responses available including recent developments such as unfair contracts legislation.