Despite the organisation's members having signed up to the Construction Supply Chain Payment Charter, aimed at ensuring standard payment terms of 30 days and abolishing retentions, only Willmott Dixon is the quickest payer, taking on average 33 days.
Build UK published the figures on payment performance of 24 of its members using data submitted under the Duty to Report on Payment Practices and Performance. Identified as a specific action within the recently published Construction Sector Deal, members have collectively agreed for Build UK to benchmark them on both the average time they take to pay invoices and the percentage of their invoices paid beyond terms.
Build UK Chief Executive, Suzannah Nichol MBE, said this "bold first step" show that leaders within the sector "are serious about changing the way they do business".
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"The creation of Build UK offered the industry the opportunity to sit around the same table and work together to tackle the issue of payment, which continues to hold the industry back from realising its true potential," she said.
"Transparency is essential to changing the industry culture around payment and the Duty to Report has provided a consistent means of comparing performance."
Minister for Implementation, Oliver Dowden CBE MP, said: "Government is leading by example in fair payment practices. All public sector organisations are required to pay undisputed invoices in 30 days and ensure this payment term is passed down the supply chain.
"Build UK is leading the industry by publishing its members' payment performance. I hope to see more of these initiatives being led by industry to help us drive a positive change in culture and help eliminate poor payment practices."
However, the National Federation of Builders' (NFB) National Chair, Neil Walters, said fair practice is essential to changing the industry culture around payment, not transparency.
"Transparency is a legal requirement, not a bold step," he said.
"Procurement regulations already require 30-day payment terms down the supply chain, but the first thing tier one contractors do is change the contract terms to suit their interests and all but force SMEs to sign the amended terms to get paid.
"Seeing Build UK portray tier one contractors like industry pioneers is the ultimate insult. Build UK members, who make up less than 1% of the construction industry, are failing the 99%."
To view Build UK's publication, visit here.
(LM)
