The latest results published under the Duty to Report on Payment Practices and Performance show that the payment performance of Build UK members has improved again over the last six months, despite the ongoing challenges presented by COVID‐19 and Brexit. Contractor members are now reporting an average of 34 days to pay invoices, down from 35 days six months ago and 45 days when the Build UK table was first published in July 2018. On average, they now pay 94% of invoices within 60 days, up from 82% three years ago, and 79% of their invoices are paid within terms, compared to 61% in 2018.
Build UK’s table features more than 100 of the industry’s largest companies to provide a comprehensive picture of payment practices in construction. This increased transparency has resulted in significant changes in behaviour over the last three years, and a third of Build UK Contractor members now pay in an average of 30 days or less, with two thirds paying in 35 days or less.