A mere 4 out of the Top 100 Construction Companies have signed up to the government’s Construction Supply Chain Payments Charter since it was set up in January 2015 and not a single Top 5 construction company has signed up!
Are you surprised?
The Construction Supply Chain Payments Charter’s ambition for 2025 is that the construction industry’s standard payment terms are 30 days and that retentions are no longer withheld. Contractors who sign up must agree to pay with 45 days which will reduce to 30 days in January 2018.
The Specialist Engineering Contractors Group which represents tens of thousands of small businesses said that large contractors were attempting to improve their own position by delaying payment to suppliers.
And CRS can make a difference!
Specialist QS Team
Highly Skilled in Construction Debt Recovery
Vigorously Pursuing Debts and Claims
Challenging Spurious Delaying Tactics
No Win No Fee CRS also offer Commercial Debt Recovery on a “no win no fee” basis
Please give us a call for your free consultation.