Steel firms expand retention bonds

Article Abstract:

UK main contractors are being refused cash retentions on contracts not exceeding 500,000 pounds sterling by steel work contractors, who have refused retentions on larger contracts. Over 1.6 billion pounds sterling worth of contracts could be affected in 1998. Over 20 members of the British Constructional Steelwork Association have been refusing to give cash retentions to contractors from Sept 1996. Smaller firms find it more difficult to refuse to give cash retention, which are used in the event of faults with steel materials.

United Kingdom, Industry Overview, Steel industry, British Constructional Steelwork Association

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BEC to expand top firms' lobbying role

Article Abstract:

The BEC is to be reformed, with leading construction executives to be given a larger lobbying role. An official status may be given to the BEC President's Consultative Committee and senior executives given a more defined role. A new organisation, Newco, is being established, with the Federation of Civil Engineering Contractors (FCEC) and the BEC aiming to merge to create a more powerful construction employers' lobby group. The FCEC is largely opposed to Newco, however.

Construction industry, Associations, Powers and duties, Lobbyists

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DOE agency may sell assets

Article Abstract:

Regeneration agency English Partnerships could raise more than 100 million pounds sterling through the sale of part of its 250 million pounds sterling investment portfolio. The money raised would be invested in deprived areas. At present, its assets are made up of industrial units worth 187.8 million pounds sterling, high-tech property worth 36 million pounds sterling, managed workspace worth 2.9 million pounds sterling and offices worth 22.1 million pounds sterling.

Planning, Urban renewal, United Kingdom. English Partnerships

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