Government consults on cash retentions in the construction industry
Research output: Contribution to specialist publication › Article
Architects are being encouraged to support the introduction of a retentions deposit scheme aimed at putting an end to the practice of payments being withheld for an unreasonable length of time, and to eliminate altogether the risk of losing retentions through contractor bankruptcy. According to the government’s own figures, almost £8 billion of cash retentions have remained unpaid over the last three years. In 2015, it is estimated that £45m worth of cash retentions
were lost to supply team members because of upstream insolvencies.
were lost to supply team members because of upstream insolvencies.
| Original language | English |
|---|---|
| Number of pages | 4 |
| Issue number | January 11, 2018 |
| Journal | RIBA Members Newsletter & Website |
| Publisher | RIBA |
| Publication status | Published - 11 Jan 2018 |
Related information
Outputs
Why engaging with procurement is fundamental: unlocking capacity and talent to deliver better quality and sustainability
Research output: Chapter in Book/Report/Conference proceeding › Chapter (peer-reviewed) › peer-review
Competition Culture in Europe: Voices
Research output: Book/Report › Book
Procurement: case studies
Research output: Book/Report › Book
Passing the buck: The new construction crisis: Huge problems with quality in UK construction is apparent. Action must follow.
Research output: Contribution to specialist publication › Article
Activities
Construction Industry Summit
Activity: Participating in or organising an event types › Participation in conference
Collaboration and Partnering in Irish Construction Procurement
Activity: Participating in or organising an event types › Participation in conference
Delivery is an essential part of Design
Activity: Talk or presentation types › Invited talk
An Essential Guide to Public Procurement: Better Prospects + More Opportunities.
Activity: Talk or presentation types › Invited talk
Media
RIBA procurement plans
Press/Media: Expert Comment
Impacts
Policy and Regulatory Reform of Construction Procurement and embedding reforms in contemporary practice
Impact: Public Policy Impacts, Cultural & Creative Impacts, Economic & Commercial Impacts
ID: 8712720
