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Balfour Beatty introduces voluntary finance schemeMarch 2014

Balfour Beatty has announced a new voluntary finance scheme for its UK supply chain, which could enable their suppliers to receive payment earlier than before.

The scheme, which is operated in partnership with two UK banks, is to be introduced in a phased launch and is intended to support small and medium size businesses by helping them to overcome potential cash flow issues by providing access to low cost funding.

Suppliers who sign up to the scheme will be able to access their payments, once their invoice is approved. The supplier would log onto an internet platform to access their payments less a small interest charge. It is intended for the interest charge to cover the schemes cost and not to generate income for Balfour Beatty.

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