SELECT has reminded its members to have their say and take part in an industry-wide consultation on the use of cash retentions in construction.
Managing director Alan Wilson said that every member business should make their views known to the Scottish Government discussion before it closes on 25 March.
The consultation was announced in December following an ongoing campaign by SELECT, working in partnership with the Specialist Engineering Contractors’ (SEC) Group.
SELECT and SEC Group Scotland have been carrying out extensive lobbying amongst members of the Scottish Parliament to encourage them to support legislation to ring-fence the monies.
Wilson said, “This consultation gives everyone in our industry a great opportunity to make their voice heard when it comes to the ongoing issue of retentions.
“We know from member feedback that late and withheld payments caused by retentions continue to cause problems for businesses up and down Scotland.
“The disruption to all-important cash-flow doesn’t just cause financial worries – it can lead to serious mental health issues and depression.
“That’s why it‘s vital that SELECT members have their say and make their concerns known. Only by speaking out together can we hope to put an end to this outdated practice.”
The new consultation comes after a review of the system of cash retentions carried out for the Scottish Government by consultants Pye Tait.
To take part in the consultation, visit www.gov.scot/publications/practice-cash-retention-under-construction-contracts/.
