UK Eases Tough Rules

摘要

The U.K. government has eased a contractor prompt-payment policy announced earlier this year in response to complaints from subcontractors. It was set to require, as of September, that contractors pay 95% of all invoices within 60 days over two previous six-month results reporting periods, or risk becoming ineligible for public-sector construction projects. Officials now have lowered that requirement to 75%. It is based on government statistics that showed only four firms meeting the government standard for their latest reporting period and only one for its most recent two periods.