Are late payments a threat to a contractor's survival?
from For Construction Pros
It's no secret that the system of payments in the construction industry is seriously flawed, even bordering on the dysfunctional. As money flows down through the payment chain, the further you are from the top — think subcontractors, sub-subs and suppliers — the longer it takes for you to get paid. Late payments are so common in construction that timely payments are the exception rather than the rule, as evidenced by data provided by Dun & Bradstreet.
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