Tag : SEC Group
Despite continued uncertainty over how Brexit will impact trade, regulations and the construction supply should it go ahead as scheduled at the end of this month, the UK HVAC industry must undergo significant change to adapt to a changing global market place.
A second reading of a bill that would legally mandate the ringfencing of cash retentions is currently scheduled for March 8 with supporters claiming that the chairs of 15 influential select committees are among parliamentarians to have now expressed support.
The Specialist Engineering Contractors’ (SEC) Group has backed proposed legislation introduced to parliament this week that would require government and other public sector contracts to make use of project bank accounts.
The SEC Group has accused the government of failing to introduce meaningful changes to construction payment practices in response to multiple concerns identified around procurement and contracting following the collapse of Carillion.
Some of the UK’s largest construction companies have begun to publish figures on their recent payment performance as part of new commitments by industry body BuildUK to address industry and government concerns.
Network Rail’s pledge to reform prompt payment practices and abolish the use of retentions in its contracts has been hailed as a strong template for the wider construction industry and building services sector to follow.
A second reading in parliament of a bill intended to ringfence cash retentions within the construction supply chain will be further delayed until October, with trade bodies supporting the bill hoping to use the time to build wider consensus among MPs to push for reform.
Parliament will this week discuss a bill on opening up the Freedom of Information (FOI) Act to apply to all public service contractors and housing associations as a means to improve transparency around how functions such as fire safety commitments and regulations compliance are being met.
BESA has claimed that over 100 MPs have now expressed support for efforts to ring-fence cash retentions. The claims have been made as the organisation seeks to push regulatory reforms through parliament that would mandate the use of third party deposit schemes.
The Specialist Engineering Contractors’ (SEC) Group has said commitments by chancellor Phillip Hammond to issue a call for evidence over tackling the issue of late payments will be cautiously welcomed in the construction industry.