Cash is king in the construction industry and the UK Cabinet Office recently announced £4bn to flow directly to SMEs through project bank accounts (PBAs) over the next 3 years.
http://www.cabinetoffice.gov.uk/news/%C2%A34-billion-flow-directly-smes-through-government-construction-projects-and-new-construction-pip
All good stuff of course and would be nice to have a revolutionary approach to payment. Remember that NEC already has in place a Z clause for this, link below, the clause is half way down the useful downloads page
http://www.neccontract.com/about/ContractDownloads.asp
I wonder what if there is an appetite in the UK private sector and public/private sectors in other countries for this? I hope so......
Rob
http://www.cabinetoffice.gov.uk/news/%C2%A34-billion-flow-directly-smes-through-government-construction-projects-and-new-construction-pip
All good stuff of course and would be nice to have a revolutionary approach to payment. Remember that NEC already has in place a Z clause for this, link below, the clause is half way down the useful downloads page
http://www.neccontract.com/about/ContractDownloads.asp
I wonder what if there is an appetite in the UK private sector and public/private sectors in other countries for this? I hope so......
Rob
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