Extending payment terms is not without consequence and we must be informed on these risks in order to make a sound decision.
Tag: payment terms
Industry Watch – Late Payments – How the Construction Industry is Working to Mitigate the Impact of Late Payments and What Owners Need to be Leery of.
The problem has been building for a long time and it all came to a head in January 2018 when the second largest construction company in the UK (Carillion) went bankrupt.
Best Practices – Retainage – How Contractors are Avoiding Retainage and How it Hurts Owners.
This had the net effect of holding back the Contractor’s entire fee as a guarantee that they would complete the work.