Late equaliser
Article Abstract:
The UK's main construction contractors will be affected by the Late Payment of Commercial Debts (Rate of Interest) Order 1998, which will detail the rate of interest that will constitute the statutory rate when late payments begin to attract interest charges. The rate of statutory interest will initially probably be set at 8% above base rate. It is likely that most subcontractors will be too large to be defined as a small business under the Late Payment of Commercial Debts (Interest) Act 1998 (commencement number 1) Order 1998, which will address the phased introduction of the act. They will therefore not be able to make use of the right to statutory interest.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1998
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EC may allow firms to claim interest from late payers
Article Abstract:
The European Commission has published a green paper which focuses on ways of improving public procurement directives. Member states are being encouraged by the European Commission to put pressure on contracting authorities to improve payment procedures, and the green paper also proposes the extension to subcontracts of existing public procurement regulations. Contractors and subcontractors may be able to charge interest if they are paid late.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1997
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Notional health service
Article Abstract:
Planning supervisors provide a service which is undefined and sometimes unreliable, according to safety consultant Jim Hoare of Site Safety Services from Brentwood, Essex. Hoare has worked with a number of planning supervisors since the role came into existence in response to 1995 Construction (Design and Management) Regulations. Three instances of ineffectual planning supervision are described.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1997
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