Retentions ban bill to be tabled in Parliament today

The government is formally introducing legislation today that would ban retentions under construction contracts as part of a wider crackdown on late payments to small firms. The Small Business Protections Bill, officially known as the Commercial Payments Bill, would also cap payment terms at 60… The post Retentions ban bill to be tabled in Parliament today appeared first on Construction News.

Government proposes new powers to tackle late payments

The government will introduce plans for new powers to tackle late payments to small businesses, including a ban on withholding of retention payments, a cap on payment terms and mandatory interest on late payments.

Travis Perkins under fire for change in payment terms

Builders’ merchant Travis Perkins is causing ructions in the industry by extending its standard payment terms to 60 days from the end of the invoice month.

Late-payment crackdown: can contractors rise to the challenge?

Rob Driscoll is the director of legal and business at the Electrical Contractors’ Association The government’s latest proposals to tackle late payments represent the most ambitious legislative overhaul in over a century. For the construction industry, where withheld retentions, long payment terms and cascading insolvencies… The post Late-payment crackdown: can contractors rise to the challenge? appeared first on Construction News.

American Express is connecting contractors to Billd’s extended payment terms for materials purchases

American Express and Billd are teaming up to help eligible construction companies access working capital through extended payment terms.

Metroun - Construction Cash Flow Forecast

Cash Flow Forecasting is a key skill for Quantity Surveyors to learn and to do accurately. This video explains what a cash flow forecast is and how to improve cash flow on a construction project