logo
Plus   Neg
Share
Email

Rio Tinto Shortens Payment Terms To 20 Days For Australian Suppliers

Rio Tinto (RTPPF.PK,RIO.L,RIO,RTNTF.PK) has shortened its payment terms to 20 days for 90 percent of its Australian suppliers.

As per the new policy, Rio Tinto will immediately begin transitioning small businesses with annual turnover up to A$10 million to payment terms that will see them paid within 20 days of receipt of a valid invoice.

Previously, Telstra has decided to reduce its payment terms to 20 days for its small and medium-sized suppliers by the end of the financial year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Lowe's (LOW) is temporarily increasing wages of its employees. The latest move by the hardware retailer is to help its employees cope with the economical effects caused by the ongoing COVID-19 pandemic. The company has hiked salary by $2 per hour for all full-time, part-time, and seasonal hourly associates,... Amazon.com Inc. (AMZN) Founder and CEO Jeff Bezos is donating $100 million to food banks across the U.S. to support poor people who cannot afford food during this coronavirus crisis. Bezos made a $100 million gift to Feeding America, one of the largest U.S. nonprofit focused on food security. Feeding... Facebook on Thursday shared an update on its $100 million small-business grants program announced in March, saying that it will provide $40 million in grants to 10,000 U.S. small businesses that were impacted by the coronavirus pandemic. In March, the social media giant said it is offering $100 million in cash grants and ad credits for up to 30,000 eligible small businesses.
Follow RTT
>