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Terms and conditions

The City of London Corporation has an overall target to ensure that all invoices are paid within 30 days of receipt.

For SME suppliers, we introduced accelerated payment terms of 10 days from receipt of invoice. Small to Medium Enterprises (SME) are defined by the European Union under Article 2 of the Annex to Recommendation 2003/361/EC: The category of micro, small and medium-sized enterprises (SMEs) is made up of enterprises which employ fewer than 250 persons and which have an annual turnover not exceeding 50 million euro, and/or an annual balance sheet total not exceeding 43 million euro.

If you have any queries about accelerated payment terms please email the City Procurement Accounts Payable Team or call 020 7332 1180.

Additionally, we are committed to the Prompt Payment Code - see the Prompt Payment Code website for details.

The City has different sets of terms and conditions which apply to its purchase orders, dependant on the type of supply. The terms and conditions incorporated into the City's standard Order Forms can be downloaded from the links below. Unless an order is placed under the terms of a separate written contract the applicable terms available at the links below will apply.

The City of London Standard Conditions for the purchase of Goods, Services and Works

The City's standard conditions are divided into 'modules'. The modules applicable to a commission will vary depending upon whether it is for goods, services or works.

City Accelerate Standard Participation Agreements

21 June 2013
Last Modified:
16 July 2019