Chartered Quantity Surveyor | Accredited Adjudicator | Arbitrator | Accredited Mediator | Expert Witness | Trainer
With all that is happening with ISG across the water it's a good time to remind all #subcontractors that if you havnt received payment on day 31 it's late so do something about it. Manage your debts, as letting them grow and letting time pass just increases the chances of never getting paid. In Ireland subcontractors are protected by law and must be paid every 30 days. Someone who owes you money is not a friend to your business they are a problem for your business. Don't get clouded with a sence of what is generally a one sided loyalty. You work hard so play hard when it comes to getting paid. No excuses and don't be the roadblock to your own survival. #quantitysurveying #quantitysurveyor #constructioncontractsact #payyourbills
"They say there are two types of customers in collections: those who can’t pay and those who won’t pay."
Couldn’t agree more Keith Kelliher. Payment is late the very next day. Whilst many contractors will get called out for being “too contractual” (awful phrase) this is the best way to protect the business
Completely agree Keith - it's too easy to let late payments slide, but it's important to be proactive about getting paid on time.
Managing Director- MACO Construction
4moAgreed Keith, in my opinion 30 days is 30 days max, not 31,32,33 days etc. I work for some amazing clients that always pay on time or early, but there's always 1 or 2 that want to push it, and I know dam well it's not a cash flow issue, it's purely a control thing!! I tend to not then help them with quick turnaround quotes or labour to site. So it's them that lose out in the end!!