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13 Feb 20201 minute read

Balfour Beatty re-joins Prompt Payment Code

ECAtoday
Balfour Beatty re-joins Prompt Payment Code

Construction giant Balfour Beatty has been reinstated to the Prompt Payment Code.

The firm is one of 14 businesses to be reinstated to the Code, including Galliford Try, Laing O’Rourke and Persimmon.

Speaking to Construction Manager, the Chartered Institute of Credit Management’s (CICM) chief executive Philip King said: “All 14 businesses have demonstrated a substantial improvement in payment performance that warrants re-instatement to the Code.”

“We will continue to challenge signatories to the Code if the obligatory Payment Practice Reporting data suggests that their practices are not compliant.”

ECA’s director of legal and business Rob Driscoll added, “With a business the size of Balfour Beatty, turning the tanker quickly is not easy and we should recognise that achievement.

“ECA welcomes dialogue with Balfour Beatty and other leading prompt payment signatories on how to increase the visibility of positive supply chain payment behaviour.”

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