Government puts squeeze on contractors’ payment times

money money money shutterstock

Source: Shutterstock

New rules on public sector jobs to come into force next April

Main contractors which fail to explain why they have not paid 95% of invoices within 60 days will be barred from winning public sector jobs under tightening procurement rules.

The measures were announced by the Cabinet Office last week as part of a tightening up of procurement rules to promote faster payment times within the industry.

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