There's much more work to do to make payment fairer : vimars

There's much more work to do to make payment fairer


Construction News.
In December, it published an Oracle-sponsored panel discussion and, last month, it published its latest CN Payment 100 list, analysing how promptly the UK’s largest contractors pay their suppliers. But looking at the landscape today, we can see that progress on making payment fairer has been mixed.
PBAs: a success
Let’s deal with project bank accounts (PBAs) first, which have been a success story.
Research I recently participated in with Constructing Excellence showed that they have gained traction across the UK. Highways England remains the most prolific user of PBAs and, by 2025, some £17bn of the organisation’s work will have been paid through PBAs. As a result, contractors and consultants all along the supply chain are being paid within 18 days of the assessment (valuation) date in the main contract and many speak positively about their use.

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