New development: fair payment charter
On 22 April, a supply chain payment charter for the UK construction industry was launched by the Construction Leadership Council (CLC). The CLC was established last year to implement ‘Construction 2025: industrial strategy for construction’. Its members consist of representatives from industry and the government.
The charter sets out several fair payment commitments, which include: a 60-day maximum payment period with immediate effect, decreasing to 45 days from June 2015 and 30 days from January 2018; the issue of ‘pay less’ notices at the earliest opportunity and no later than seven days prior to the final date for payment; not deliberately delaying or unreasonably withholding payment; not withholding cash retentions by 2025; using project bank accounts on central government contracts unless there are compelling reasons not to do so and on other contracts where appropriate; making payments electronically; agreeing to be monitored for compliance by reporting against a set of agreed key performance indicators (KPIs); and agreeing to consider the performance of other firms against the KPIs when awarding contracts.
Nine firms have already signed up, including British Land, Kier, Laing O’Rourke, Skanska, Berkeley Group, Stepnell, Imtech UK, Barratt Developments and Stanford Industrial Concrete Flooring…
Click on the link below to read the rest of the Gateley briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from The Lawyer
Briefings from Gateley Plc
Challenge to the very basis of the no-win no-fee costs regime.
A ‘white list’ of permitted management activities is one of the changes to ensure structure remains the market standard.
Analysis from The Lawyer
Gateley bigshots see personal wealth soar on flotation, but face penalties for early exit .
Gateley is to float on the London Stock Exchange, becoming the first UK firm to list itself as a public limited company. But why would a firm would look to float, and what it could mean for the industry?