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Government moves to speed up subcontractor payments

Subcontractors are set to enjoy shorter payment terms with news that the federal government is extending the maximum 30-day payment terms to all subcontracting businesses operating within its various agencies and departments.

Government moves to speed up subcontractor payments
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Government moves to speed up subcontractor payments

Research earlier in the year by SME lender Scottish Pacific found that almost 93 per cent of the 1,200 businesses surveyed suffered lost revenues because of cash flow problems.

Read the full article at My Business.

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