New regulations on late payment
In the latest instalment of her legal digest, construction lawyer Najma Dunnett looks at the Late Payment of Commercial Debts Regulations.
In these economically challenging times, businesses, especially those in the construction sector, need all the help they can get in encouraging prompt payment and aiding cash flow. Indeed poor payment practices, rife in the construction industry, blight many businesses and contributed to the introduction of the Housing Grants Construction and Regeneration Act 1998. Now, further help is at hand in the form of the Late Payment of Commercial Debts Regulations 2013 which came into force on 16 March.
The Regulations amend the Act by imposing limits on payment periods of:
- 30 calendar days when the purchaser of goods/services is a public authority.
- 60 calendar days when the purchaser is another business, but this can be extended if expressly agreed in the contract and provided it is not grossly unfair to the supplier.
Find out more about late payments.
Featured articles and news
A briefing on fall protection systems for designers
A legal requirement and an ethical must.
CIOB Ireland launches manifesto for 2024 General Election
A vision for a sustainable, high-quality built environment that benefits all members of society.
Local leaders gain new powers to support local high streets
High Street Rental Auctions to be introduced from December.
Infrastructure sector posts second gain for October
With a boost for housebuilder and commercial developer contract awards.
Sustainable construction design teams survey
Shaping the Future of Sustainable Design: Your Voice Matters.
COP29; impacts of construction and updates
Amid criticism, open letters and calls for reform.
The properties of conservation rooflights
Things to consider when choosing the right product.
Adapting to meet changing needs.
London Build: A festival of construction
Co-located with the London Build Fire & Security Expo.
Tasked with locating groups of 10,000 homes with opportunity.
Delivering radical reform in the UK energy market
What are the benefits, barriers and underlying principles.
Information Management Initiative IMI
Building sector-transforming capabilities in emerging technologies.
Recent study of UK households reveals chilling home truths
Poor insulation, EPC knowledge and lack of understanding as to what retrofit might offer.
Embodied Carbon in the Built Environment
Overview, regulations, detail calculations and much more.
Why the construction sector must embrace workplace mental health support
Let’s talk; more importantly now, than ever.
Ensuring the trustworthiness of AI systems
A key growth area, including impacts for construction.