Tag: retentions
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Five things construction firms need to know about the new Fair Payment Code
Many construction firms were signatories to the PPC, but most had signed up when bidding for contracts and forgotten about the commitment they had made. Many were not engaging with the PPC, the person who had championed joining the PPC had moved on, there was no ownership, and firms were no longer complying. View the…
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What construction should know about the new retentions reporting laws
New regulations now force qualifying companies to report on various aspects of how they deal with retentions. Michelle Essen and James Cooper explain. From 1 March 2025 new laws require certain companies to report on the retentions they hold and on their retention practices. While reporting on payment performance and practices has been required since…