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The supply chain
Thursday, 23rd October 2008
No matter where we sit in the supply chain, it is vitally important that we are paid in a timely manner for the services we provide, writes John Miller.
The construction industry has not always been the best when it comes to operating Best Practices associated with paying other organisations within the supply chain. Just over a decade ago and as a result of pressure from the specialist sub-contractors, the Government, via the Construction Act 1996, introduced legislation which was designed to regularize the payment process.
It has to be said that this legislation only had a limited effect and that is why during the next session of Parliament, amendments will be undertaken to the Act which will hopefully further enhance payment practices within the construction industry.
As a company, we feel strongly that all participants within the supply chain need to be paid fairly and timely. This belief was never more important than now, given what we are seeing in the financial marketplace and the strains that that is putting on cash flow within all businesses. The adage, “do unto others as you would have them do unto you” applies even more at this time.
