The Supply Chain Payment Charter was published last month by the Construction Leadership Council, the body set up to deliver the government’s industrial strategy for construction.
The charter sets out 11 ‘fair payment commitments’. These include a commitment to reduce payment terms to a supply chain to 30 days from January 2018. The charter also sets out stages before this: terms of 45 days from June 2015, and 60 days with immediate effect. Other commitments made in the charter include not withholding cash retentions, not delaying or withholding payment, and making payments electronically.
At its annual general meeting this week the STA decided to join the National Specialists Contractors Council (NSCC) and support the NSCC’s Fair Payment Campaign.
The STA was formerly known as the UK Timber Frame Association (UKTFA) and rebranded in 2013 to embrace a wider range of timber manufacturers and users as well as timber frame. Member firms include manufacturers of structural timber products & systems, erectors and designers.