Construction News needs your help.
Today we have launched an anonymous survey into subcontractors' experiences when seeking payment for their work from main contractors.
While some industry bodies argue that payment practices are improving, several contractors admit they still pay more than 20 per cent of invoices late – and parliamentarians are among those concerned that subcontractors are still suffering from missing or late payments.
Now CN is providing specialists with an opportunity to give their own perspective on the terms and timings of payments, as well as issues relating to discounting and retentions.
The five-minute survey also asks subcontractors about their views on project bank accounts – under which a supply chain is paid directly by an ultimate client – as well as on whether retentions will be phased out by 2025, the date favoured by Build UK and the Construction Leadership Council.
Answers to the survey will be used by CN to inform forthcoming in-depth coverage of payment practices in industry.