CN PAYMENT 100 ARE COMPANIES PAYING SOONER?

摘要

Slow payment has long plagued construction. It comes as no surprise to learn that, in 2020, amid a global pandemic, a national shutdown, and with many companies struggling for cash, poor payment practices have again come to the fore. According to Construction News's latest analysis of government payment data, most of which was collected after the first lockdown was enforced in March 2020, many must still wait well beyond 30 days to receive payment. Adding to cashflow challenges, nearly a third of all payments breached agreed terms, typically meaning a commitment to pay by some other deadline beyond 30 days was also missed. While efforts have been made by many firms to reduce payment delays, CN found that, in the most recent data, around a third of large contractors in our CN100 list took longer to settle their invoices than in the year before.