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Government changes rules on payment times after CIOB lobbying

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Comments

  1. What about all the smaller-medium sized member companies that our specialist subcontractors to the larger and national contractors that are going wait a long ng time to be paid.
    Remember the larger contractors mostly employ only management direct and site infrastructure, the actual work is done by the subcontract trades but they have to wait much longer to be paid yet who are critical to the main contractors performance who gets paid long before the ‘actual contractors, installers, fitters’.
    Why should we always need to push, phone, nag the project surveyors and accounts office for what is rightly ours. We are the cogs in the wheel yet get the least consideration, credit and payment terms.

  2. This really seems retrogressive. If only undisputed invoices are taken into account, then why can’t all payments be made within 60-days? Contractors should not be using subcontractors monies to bank role their cash flow issues (or more likely to simply earn interest on the money). That is what banks are for. All this practice does is increase the cost of subcontractors doing business, which in turn increases the cost of construction to the industry.

  3. So the late payers which drive sub-contractors into bankruptcy, like Carillion and Pochin, , have gained yet another extension to continue their bad practices whilst the ones which have upped their acts like Willmot Dixon have gained nothing!
    I cannot understand why my professional Institute, the CIOB, approves this back tracking. How much effort is required to bring a company’s payment out procedure to 60 days or less?

  4. Your articles are so ambiguous -the Ciob welcomes the lowering of a standard? This doesn’t make sense.

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