Crown Commercial Service Takes Proactive Steps on Prompt Payment for Suppliers
Published on: 22 February 2022
The Public Contracts Regulations (2015) already require 30-day payment terms to be passed down the supply chain on those contracts that relate to public sector work. From 1 April 2022, suppliers bidding for central government contracts worth more than £5m per annum, will need to demonstrate that they pay at least 90% of their invoices to suppliers within 60 days in one of their previous two published payment reports, or risk being excluded from the procurement.