News & Views
3rd December 2021
NECA welcomes opening of Payment Times Reports Register
The National Electrical and Communications Association (NECA) has welcomed the opening of the Commonwealth Government’s Payment Times Reports Register. It will publish the time it takes for large businesses and certain government entities to pay their small business suppliers.
NECA has long advocated for more transparency around payments and hopes this will be another step in ensuring electrical contracting businesses get paid in full and on time. Some NECA members will be required to report to the Register and NECA urges all members to familiarise themselves with the scheme.
Oliver Judd, CEO of NECA, said:
“Slow payments are the scourge of the construction industry and too often principal contractors use money owed to subcontractors, like electricians, to prop up their balance sheets.
“NECA has been at the forefront of addressing the payments problem, and we hope the Register will help small businesses get paid in full and on time.
“We will continue to advocate for better payment terms and protections for our members to ensure they don’t lose out from the structural power imbalance between principal and subcontractors.”
Details of the scheme can be seen here: https://paymenttimes.gov.au/
