The construction industry is replete with risk and can be daunting to negotiate. With challenges ranging from the completion of complex projects on compressed schedules to the possibility of significant personal injury, so much can go wrong. Perhaps the biggest problem plaguing the industry since the 2008 crash, however, is the threat of nonpayment.
Lawyers called into action when their contractor clients have not been paid understand that the stakes are higher than ever. In most instances, a payment problem isn’t about just lost profit; instead, the contractor is suffering from an actual loss on a job it already capitalized. Money has been spent to purchase materials, cover overhead, and pay subcontractors. Payment on their invoices allows them to be reimbursed for those expenditures and then take a small profit at the end of the job. This business model can create conflict when payment is not made based on a multitude of problems—whether real or perceived.
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