The construction industry has a history of delayed payment and late payment. The way in which the industry has evolved over a number of decades so that prime contractors sub-contract the majority of their work, the highly fragmented nature of the industry and the disproportionately small size of many of the market participants means that the ability to delay payment is relatively great and the ability to demand timely payment is relatively limited.
The question therefore arises as to whether delayed and late payment are merely symptoms or causes, of the modern day prevalent business models within construction?
The Constructing Excellence Funding and Finance Theme Group, sponsored by Textura have produced the following report:
Payments Minefield – A review of payment practices within the UK Construction industry
