Skanska has demonstrated its commitment to fair payment by renewing its support and pledge to the Construction Supply Chain Payment Charter.
The Supply Chain Payment Charter is an important statement of Skanska’s commitment to fair and prompt payment.
Under the Charter, Skanska is committing to standard contractual payment terms. By 2018 we will ensure that payments are made to our supply chain not more than 30 calendar days from the end of the calendar month in which the works are carried out or products are supplied.
The vast majority of contracts with our suppliers already reflect 30-day payment and all new contracts should also comply with these terms and conditions.
Since April 2016, we have been required to formally measure our payment performance. During Q3 2016, we will begin to publish key payment performance metrics on our website, which will also set out clear guidance on payment procedures.
Mike Putnam, President and CEO Skanska UK, said:
“As a member of the Construction Leadership Council, I am delighted to demonstrate Skanska’s commitment to fair payment by renewing our support and pledge to the Construction Supply Chain Payment Charter.
“Our aim is to always work in an open and collaborative way. We value the strong long term relationships we have with our supply chain partners and understand the importance of prompt payment to them.
“Signing this charter is a positive step towards creating more transparency in our payment performance and processes while creating the right conditions for the industry’s supply chain to grow and thrive.”