Fair payment will help improve trust

摘要

There is a good alignment between the mechanism of project bank accounts and fair payment. It is recommended that from January public sector clients should progressively specify them where practicable and cost effective. This is contained in guidance from the Office of Government Commerce in September. It is endorsed by the Public Sector Construction Clients Forum and industry bodies. A project bank account is a safe receptacle for cash intended for the project's delivery team. It will instantly provide cash certainty. It will encourage all to improve their margins through the delivery of quality rather than by manipulating the payment process. The OGC's guidance estimates £750 million of savings will be made.