Heating and Ventilating

 

SEC Group welcomes late payment action

The recent announcement by the Cabinet Office of its intention to exclude late payers from government contracts has been applauded by leading construction body the Specialist Engineering Contractors’ (SEC) Group.

SEC Group – representing the largest sector of UK construction, by value – said that such a measure was long overdue and urged government to act on it. 

SEC Group chief executive, Professor Rudi Klein, added: “For some years we have been advocating a yellow/red card policy for public sector procurement. In other words, poor payers should be warned about their payment performance and then banned from public sector contracts if their performance doesn’t improve.”

The Reporting of Payment Practices and Performance Regulations 2017 requires large companies (as of April 2017) to report on their payment practices. This includes providing information about their standard payment terms and the proportion of invoices which are paid late.

Professor Klein hopes that this data will give public sector procurers sufficient evidence on which to base their decisions to exclude poor payers: “Public sector procurers must also up their game to ensure they pay on time. Furthermore, I now would expect the whole of the UK public sector to follow suit and proactively challenge payment abuse.”

30 November 2018

Comments

Already Registered?
Login
Not Yet Registered?
Register
ACR News

Industry responds to Chancellor’s Spring Statement

After the 2018 Budget revealed how the government is accelerating the shift towards a clean economy with its Industrial Strategy, Clean Growth Strategy, and 25 Year Environment Plan, Chancellor of the Exchequer Phillip Hammond issued his Spring ...

  14-Mar-2019

HomEvap: Safe and precise humidity control from Humidity Solutions

Humidity Solutions has introduced the new HomEvap to the UK market, opening up new opportunities for providing safe and precise humidity control and/or low energy cooling for residential, commercial or preservation applications....

  12-Mar-2019

Create the ideal indoor climate all year round

Humidity Solutions introduces the new HomEvap to the UK market, opening up new opportunities for providing safe and precise humidity control and/or low energy cooling for residential, commercial or preservation applications.
  11-Mar-2019
Heating & Ventilating Review is the number one magazine in the HVAR industry. Don’t miss out, subscribe today!
Subcribe to HVR

Diary

https://www.heatingandventilating.net/sec-group-welcomes-late-payment-action