Payment Requirements

As reported by Build UK this week an updated Procurement Policy Note (PPN) has been published by the Cabinet Office. This PPN confirms that from 1 April 2021 suppliers bidding for Government contracts above £5 million per annum will have to show that they pay 85% of invoices within 60 days and have an action plan in place to achieve the required standard of 95% in future

Source: Build UK/UK Government