Build UK believes that fair and transparent payment practices are essential for a successful construction industry and it has been a key issue for the organisation since it was formed in 2015.
Government legislation introduced in April 2017 – Duty to Report on Payment Practices and Performance – requires large companies to publish information on their payment practices every six months.
Identified as a specific action within the recently published Construction Sector Deal, Build UK members collectively agreed for Build UK to benchmark them on both the average time they take to pay invoices and the percentage of their invoices paid beyond terms.
To provide transparency of payment practices to the whole construction supply chain.
The Duty to Report, which requires all large companies to report on their payment practices every six months, has enabled Build UK to present a clear and comprehensive picture of payment within construction for the first time. Not only will this enable the supply chain to make more informed decisions, it demonstrates a real commitment to addressing this long-standing issue and will help to drive good practice.
The published information can be found here.
Confirm members participating in pilot
Share results of pilot with participating members
Members to share their first set of data
Build UK to publish first benchmarking data
Build UK to add eligible Client and Specialist Contractors member data
Build UK to publish second set of data
Build UK to publish third set of data