Clients to follow Network Rail's lead on payments clampdown

By Jonathan Owen and Building news desk2018-07-04T08:59:00

Industry leaders hope construction clients will put contractors under pressure to reform payment practices

Industry leaders hope Network Rail’s decision to get rid of retentions and impose strict payment terms on its main contractors will kick-start a fair payment revolution and see other clients following suit.

The rail operator said its decision, announced last week, to take a tough approach to payment practices was taken to ensure that cash would flow throughout the supply chain.

One of the architects of the change, Network Rail commercial director Stephen Blakey, told Building that contractors would be under pressure from other clients to bring their payment practices in line with Network Rail’s.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community