Government puts squeeze on contractors’ payment times

By Tom Lowe2020-11-02T10:49:00

Source: Shutterstock

New rules on public sector jobs to come into force next April

Main contractors which fail to explain why they have not paid 95% of invoices within 60 days will be barred from winning public sector jobs under tightening procurement rules.

The measures were announced by the Cabinet Office last week as part of a tightening up of procurement rules to promote faster payment times within the industry.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community