Industry News

Late Payments in the Construction Industry – Who’s to Blame?

By 31st May 2019 No Comments

We read with great interest an article published in May 2017, in ENR (Engineering News-Record) by Thomas C. Schleifer, PhD., a construction industry expert. Dr. Schleifer has 45 years of experience doing every conceivable job in the field and in the office, from laborer to foreman to executive. He has also owned his own construction company and has spent a significant portion of his career as a consultant specializing in turnarounds of distressed and failing construction firms.

Dr. Schleifer’s provocative article began with the attention-grabbing headline: Is Late Payment Your Own Fault?”

Centered on the broken system of payments in the construction industry (a topic that levelset is very passionate about), Dr. Schleifer’s article focuses primarily on the relationship between project owners (the payers) and general contractors (the payees). Dr. Schleifer does not mince words when he describes late payments as an “industry nightmare that violates contracts [and] multiplies risk.”

Continue Reading at LEVELSET

Originally published on 02 June 2017 and updated on 29 May 2019 by:

LEVELSET
https://www.levelset.com/blog/late-payments-in-the-construction-industry-whos-to-blame/