Opinion

Vox pop: Is the new Supply Chain Payment Charter going to change the industry’s payment culture?

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Comments

  1. If subcontractors decided not to deal with main contractors who do not pay on 30 days. The top 50 would be history. Forget BIM and sort out the thing we are all working for – money , cashflow and NOT a dirty word – PROFIT

  2. Having worked in Australia I feel they have a much better system. The Security of Payment Act ensures that payments from the client to the main contractor are paid in 14 days and from the main contractor to the sub-contractors in 30 days. This solves the problem of cash flow and ensures everyone is fairly treated. If a payment is not processed in the required time frame adjudication is made and required payment within 5 business days.
    I don’t think any voluntary system is going to work and legislation is the only real way to tackle the problem, by phasing the implementation with client to main contractor being enforced prior to main contractor to sub-contractor the impact on the main contractor’s cash flow can be mitigated.

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