Interesting rate
Article Abstract:
UK construction industry contract payment legislation has been brought in by the Joint Contracts Tribunal (JCT), which insists subcontractors must be paid an extra 5% over the base rate if late payment is made by contractors. The legislation is seen as part of the government's attack on the culture of late payments, which penalizes smaller firms while large firms make extra interest on money kept in banks. Many small firms claim the level of 5% is not high enough, with some having to borrow at rates of up to 16%.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1998
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False sense of security
Article Abstract:
The legal status of National House Builders Council guarantees on new homes is examined. The extent of insurance cover and redress for home owners whose builder has been struck of the Council's register is analysed.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 2000
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Shoes made for walking
Article Abstract:
The Contracts (Right of Third Parties) Act 1999 is important to the construction industry because it means that a third party has the right to sue when a contractor breaks a contract.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 2000
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