Kier and Seddon latest to be ousted from payment code

Aaron Morby 3 years ago
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Kier and Seddon have become the latest main contractors to be suspended from the Government’s prompt payment code.

The firms were removed because they failed to honour their Code commitment to pay 95% of all supplier invoices within 60 days.

The latest audit by the Chartered Institute of Credit Management, which police’s compliance for the Government, has also reinstated several bad payers for improving their performance.

These include Tarmac-owned Alun Griffiths, Costain; Kellogg Brown & Root; Interserve Construction; Severfield (Design & Build) and Stantec UK.

The latest raft of contractors to be thrown out include several Kier group firms – Kier Integrated Services; Kier Infrastucture and Overseas; Kier Construction; Kier Highways and McNicholas Construction Services.

Other firms also failing to live up to the pledge include Eurovia Infrastructure and Seddon Construction.

CICM’s chief executive Philip King said businesses suspended from the Code were invited to produce action plans to improve payment performance and would be reinstated to the Code as soon as they could demonstrate compliance.

He said: “We are encouraged by those who have already submitted action plans to achieve future compliance, and we are working closely with those businesses to support a better payment culture.”

Small Business Minister Kelly Tolhurst said: “We want to make sure that the UK is the best place in the world to work and start a business.

“Tackling late payments will ensure we level the playing field for small businesses so they can grow and thrive. As a former small business owner, I know how damaging late payments can be on cashflow.”

 

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