The National Specialist Contractors Council has recognised Minister for the Cabinet Office, Francis Maude as one of 14 Fair Payment Champions for their commitment to improving payment practices within the construction industry.
Francis Maude said:
We are pleased that government is recognised as a Fair Payment Champion by National Specialist Contractors Council members. This further underpins our commitment to pay bills within 10 days, as standard practice. We expect our suppliers to follow suit.
But we won’t stop here. We are pioneering the use of Project Bank Accounts to improve the speed and security of payment to members of construction supply chains, many of which are SMEs. This year alone £1.1bn worth of projects will use Project Bank Accounts.
Francis Maude was nominated by NSCC members for determining fair payment policy at the highest level within government and making it a contractual requirement on central government contracts for payments to be made within 30 days down to tier 3 suppliers.
NSCC launched their Fair Payment Campaign in 2007 with the key objectives of certainty of payment, 30-day payment and the removal of retentions - www.fairpaymentcampaign.co.uk.