The Fair Payment Campaign, which is calling for proper and timely payment throughout the supply chain to improve the quality of all construction projects, has three key objectives:
- Certainty of payment – agreeing how much should be paid and when
- 30-day payment – insisting on payment within 30 days
- Removal of retentions – striking out cash retentions in favour of more modern and practical alternatives.
Sir Michael Latham, also speaking at the event, stated: "The issue of fair payment is extremely important, and I have always believed that prompt and correct payment was vital for the industry. I called my interim report in December 1993 “Trust and Money”, because I did not think there was enough of either in construction. In “Constructing the Team” I wrote that it is absolutely fundamental to trust within the construction industry that participants should be paid for the work which they had undertaken."
The OGC Fair Payment Initiative, which includes the Fair Payment Charter to be implemented on public sector projects from 1 January 2008, was also launched alongside the NSCC campaign.
(CL)