Tag : payment reform
The Scottish Government has announced it has more than halved the threshold for mandatory use of project bank accounts in public works projects to £2m.
The government has today launched a call for evidence concerning how best to end the practice of late payments to small businesses.
Almost nine out of ten local councils in the UK are failing to pay companies for construction work within the legally required 30-day period, according to findings from BESA and the ECA.
A second reading in parliament of a bill that would mandate the use of accredited third-party deposit schemes to hold cash retentions has been postponed until June 15 after originally being scheduled for this week.
BESA has said that more than 60 construction and maintenance trade bodies have now lent their support to the Construction (Retention Deposit Schemes) Bill that was introduced to parliament in January as a means to reform payment within the construction supply chain.