When it comes to payment practice transparency, the U.S. is currently in second place to the UK.
In the UK, a public law that took effect two years ago requires big companies in all industries to file reports on their own payment performance. Build UK, a contractor’s association, publishes its members’ performances to “help the construction supply chain to make more informed decisions and drive good practice.” UK construction media regularly report on contractors that slip in the ratings. And tough new rules took effect in September requiring all government suppliers to pay 95% of their invoices within 60 days or run the risk of losing out on major government contracts.