CIMIC Group shifts on payment terms
Major contractor CIMIC Group is returning to 30-day payment terms for its small business suppliers and subcontractors in Australia.
The group - whose operating companies include CPB Contractors, UGL, Thiess and Sedgman - said the policy would be implemented progressively in the coming months.
The group came under fire late last year when UGL's payment terms were pushed out to 65 days after the month in which suppliers and subcontractors issued their invoices.
Australian Small Business and Family Enterprise Ombudsman Kate Carnell was among those expressing concern and supply chain financing provider Greensill informed all Australian clients that. . .
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