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How To Handle Construction Client Debt So You Get Paid On Time

Contractor Bookkeeping

Ideally, you want to reduce the chance of bad debts and pressure on your construction company's cash flow. When negotiating contracts with clients, try to set payment terms that help your cash flow, such as deposits or progress payments.

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Metnor supply chain debts hit £10m

Construction Enquirer

FRP blamed Mentnor’s demise on the withdrawal of a key funder alongside rising costs and loss making contracts. An update from administrator FRP Advisory Trading Ltd said 468 creditors had been identified so far since the Newcastle-based contractor collapsed in February. Latest results for the company show it made a profit of £1.3m

Debt 84
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Subcontractors owed £4.6m after Howard Russell collapse

Construction Enquirer

It also detailed the level of debts with 208 unsecured creditors left holding unpaid invoices. FRP said suppliers would get some money back for their debts once the company’s assets were realised during a liquidation. Howard Russell worked across the UK as a design and build contractor for a wide range of sectors.

Debt 72
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Digital Builder Podcast Ep 22: How Specialty Contractors Can Navigate Contracts & Get Paid On Time

Autodesk Construction Cloud

In a perfect world, a contract should include a clear set of instructions that conveys well-defined expectations to all parties concerned. This episode of Autodesk’s Digital Builder podcast addresses the most common challenges with contracts and how simple adjustments can ensure you fully understand what you’re signing.

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Commercial Debt Collection – How Do I Collect When A Company Owes Me Money?

Construction Law Monitor

The Fair Debt Collection Practices Act protects the consumer, not businesses. Most business think that when an account is overdue, then they call up a debt collection agency and the debt will be collected or its deemed bad debt. You have a pre-debt fact gathering and document filing stage, as the first phase.

Debt 56
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Howard Russell Construction goes into administration

Construction Enquirer

In its forecast for this year Howard Russell was predicting a turnover of up to £80m based on a rising number of negotiated contracts. Subscribers to the Red Flag Alert service benefit from early warnings about the financial health of companies to help them avoid bad debts.

Debt 103
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UK Contracting Giant Carillion Collapses as Rescue Talks Fail

ENR Construction

Government and partners take steps to secure contracts, employee pay as lenders bail on deal to fix firm's $2.1 billion debt; some fears of industry-wide impacts.