Tag : project bank accounts
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Payment reform failures heighten ‘no deal’ HVAC risk, warns SEC Group
Government threats to proceed with a ‘no deal’ Brexit on 31 October would be potentially “horrendous” for the HVAC sector, broader business and people dependent on their success if realised, a key industry body has warned.
Consultation launched to introduce UK late payment penalties
Amendments to the role of the UK small business commissioner to penalise late payments and improve transparency within supply chains will be the subject of an upcoming government consultation.
SEC Group welcomes MP’s proposal for project bank account law
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.
Chancellor’s late payment elimination pledge cautiously welcomed by SEC Group
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.
Welsh Government to make use of construction work PBAs from January 1
The Welsh Government will mandate from January 1 that project bank accounts (PBAs) are used for building projects valued at over £2m and that are procured by any of the devolved authority’s bodies.
