Late payment has been one of construction’s most stubborn problems for decades — squeezing cash flow, stalling investment and putting pressure right down the supply chain. That’s why the Small Business Protections (Late Payments) Bill — formerly the Commercial Payments Bill — matters to everyone in our industry. As an active member of the Finishes and Interiors Sector (FIS), QuickFix Profiles is following it closely.
What the Bill proposes
The Bill sets out what the government calls the toughest payment reforms in over a generation: a 60-day cap on payment terms for large firms paying smaller suppliers, and measures to ban the long-criticised practice of cash retentions — with real penalties for firms that don’t comply. The aim is simple: get money moving through the supply chain faster and more fairly.
Why it matters beyond just payment dates
Fairer payment isn’t only about cash flow. When suppliers and subcontractors are paid promptly, they can invest in people, equipment and quality — and a financially healthy supply chain is a safer, more reliable one. Late payment, by contrast, drives insolvencies and erodes the capacity of the firms that actually deliver the work.
Where it stands
The Bill is progressing through Parliament, with the detail still being tested and a transition period likely before changes take full effect. The direction of travel, though, is clear — and the industry’s trade bodies, FIS among them, are actively briefing policymakers to get the detail right.
Our view as part of the supply chain
As an off-site drylining specialist supplying contractors across mainland UK, we see both sides: we rely on fair payment to keep delivering, and our customers rely on a stable supply base. Reform that supports prompt, fair payment is good for the whole sector — and we’re glad to see it gaining momentum.
Working with a supplier who’s engaged with the industry matters. Get a quote from QuickFix Profiles today.
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