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This guidance explains the increasingly common Early Payment Schemes, offered my main contractors to provide shorter payment terms in return for a discount on amounts charged. It provides information from the point of view of the sub-contractor, enabling them to make more reasoned decisions that best suit their company.
This guidance note relates to schedules intended to be used for the valuation of additional work and/or variations to existing lump sum contracts. For the avoidance of doubt this guidance note does not relate to schedules of rates used in connection with contracts which are re-measured as the works proceed. This guidance is available for pdf download only.
This guidance outlines your legal requirements to charge interest on late payments, types of contracts it applies to, substantial remedies, date from which interest can be calculated.
This guidance is available for pdf download only.
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