Balfour Beatty and Laing O'Rourke chucked off Prompt Payment Code

By Will Ing2019-04-29T09:59:00

Pair joined by Interserve, Costain and Persimmon in being named and shamed by government

A public crackdown on late payment has cranked up a notch as a handful of Britain’s largest construction firms have been booted off the Prompt Payment Code – and will not be allowed back until they pay suppliers on time.

The government expects its suppliers to sign the voluntary code, under which firms pledge to pay 95% of all supplier invoices within 60 days.

And in a sign it is taking late payment more seriously, it recently promised companies they would be barred from winning public work from September unless they exceed this target.

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