Streamlined process: ‘Beneficiary Code System’ enables all government contractors to obtain a reference number through which their payments will be transferred
Contractors and vendors are required to use the newly introduced ‘Beneficiary Code System’ to invoice and receive payment for goods and services provided to any ministry or department of the Omani government, the Ministry of Finance reaffirmed here on Tuesday.
Consequently, all contractors and service providers must be registered via the dedicated portal instituted by the Ministry to process all payments in a streamlined and transparent fashion.
A unique reference number, renewable every two years, enables registered service providers to follow up on pending payments and receive payment vouchers for goods and services rendered to the government.
In details published yesterday, the Ministry described the Beneficiary Code System (BCS) as an online service that “enables all government contractors such as individuals, enterprises, and companies to obtain a reference number through which their payments due for providing services or works to the government units shall be transferred”.
Created as part of the Ministry’s www.mof.gov.om website, the BCS specifies different registration processes for corporate entities with Commercial Registration (CR) numbers, on the one hand, and small-time individual private contractors, on the other.
The former will have their particulars automatically validated by the Ministry of Commerce, Industry and Investment Promotion.
The latter, whether owners of school buses or water tankers and other such service providers, can upload their particulars and obtain a ‘beneficiary code’.
“Once the application is submitted, it will be reviewed by the competent staff at the Ministry of Finance, and the user will be notified by a text message accordingly. In case the application is approved, a specific fee will be applicable in order to complete the registration,” the Ministry added.