Home / ADCAS News / ADCAS keeps the spotlight on poor payment practices as support for Aldous Bill grows

 

ADCAS has reiterated its stance on late payments and the existing cash retentions system which it believes places an unfair and unnecessary financial burden on small to medium sized companies.

Although Build UK recently published information on the payment performance of its members, ADCAS believes that more can be done to highlight and eliminate poor payment practices within the industry and ADCAS Chairman Malcolm Moss has written to the chairman of Build UK to enquire as to how they plan to put further pressure on the worst offenders.

Mr Moss comments, “Small businesses are extremely vulnerable to the poor payment practices that have blighted the industry for decades. The ductwork industry is made up of a number of small to medium sized organisations and all of them will have seen or experienced cashflow problems caused by late payments.

“Alongside the Duty to Report on Payment Practices and Performanceregulation, the Aldous bill has generated some much need momentum on this issue and we are hopeful that meaningful change isn’t too far away.”

Support for the Aldous bill continues to grow with 200 MPs (almost one in three) now adding their backing and joining a coalition of more than 80 industry bodies and trade associations in calling for legislative reform. Announced just days before the collapse of Carillion, Peter Aldous introduced the bill in order to bring about changes that would see retention money being held in a deposit protection scheme – a vital safeguard in the event of insolvency further up the chain.

After a series of delays, the second reading of the Aldous is now set to take place on 26thOctober.

 
 
 

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