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21 Jan 20201 minute read

Late payment bill set for The Lords

ECAtoday
Late payment bill set for The Lords

Labour peer Lord Mendelsohn is due to introduce a ‘late payment bill’ to the House of Lords, according to reports. The Bill mandates 30-day payment within the private sector, as well as banning tactics intended to squeeze suppliers – such as charging fees for being paid on time.

“The recent huge escalation in outstanding payments shows that decades of promoting ‘culture change’ has only made things worse,” said Lord Mendelsohn. “This bill will tackle the issue once and for all with a package of measures that is operable, impactful and measurable.”

ECA, SEC Group and other industry partners have continually pressed Government to reform unfair and late payment practices. Back in 2015, following sustained lobbying by ECA, the Government mandated 30-day payment in the public sector, although these rules do not apply to private contracts.

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