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Keep on top of your cash flow, chase every payment, and don’t sit back and do nothing

Keep on top of your cash flow, chase every payment, and don’t sit back and do nothing

The last few months have been hectic working for several construction organisations who are members of the various bodies that make up CICV.

I have seen an alarming increase in the number of organisations that are suffering from payment and cash flow issues, and these are probably putting a strain on the finances of the business and more strain on the mental health of those who run the businesses. What appears to be a regular feature is that organisations don’t respond to payment applications, don’t respond to emails requesting information and just put up a wall of silence, and then they start to reduce payment applications with some spurious excuses, and contracting organisations go round and round not knowing where they are going.

By inventing all sorts of excuses one can keep a subcontractor at arm’s length for weeks if not months, providing prevaricating excuses for not paying.

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Lens Blog: Termination

Lens Blog: Termination

FIS Consultant Len Bunton talks termination of contracts. This is another minefield, and another good reason you should read contracts.

Here, Len discusses what can you do to reduce exposure to a threat of termination.

Members can see the full blog

These monthly Blogs are designed to help FIS Members avoid common traps and build on our focus on collective experience.  They share ideas about improving the commercial management of your contracts. In other words, instilling best practice into the way FIS members run and manage their business. What I have endeavored to suggest is ways to ensure you get paid on time, and what you are due.

Lens Blog: Record keeping

Lens Blog: Record keeping

FIS Consultant Len Bunton looks at the importance of keeping records and why this is vital.  It is not uncommon for disputes to emerge on contracts that were concluded 3-4 years ago, so your records need to be collated and stored and archived, because you never know when you might need them.

Members can see the full blog

These monthly Blogs are designed to help FIS Members avoid common traps and build on our focus on collective experience.  They share ideas about improving the commercial management of your contracts. In other words, instilling best practice into the way FIS members run and manage their business. What I have endeavored to suggest is ways to ensure you get paid on time, and what you are due.

Lens Blog: Suspension

Lens Blog: Suspension

FIS Consultant Len Bunton looks at the Contractors Right of Suspension and the process that should be followed.

Members can see the full blog

These monthly Blogs are designed to help FIS Members avoid common traps and build on our focus on collective experience.  They share ideas about improving the commercial management of your contracts. In other words, instilling best practice into the way FIS members run and manage their business. What I have endeavored to suggest is ways to ensure you get paid on time, and what you are due.

Lens Blog: Adjudication

Lens Blog: Adjudication

FIS Consultant Len Bunton looks at the recently released report published by Kings College London – 2022 Construction Adjudication in the United Kingdom: Tracing trends and guiding reform – which provides a good snapshot of current trends.

Members can see the full blog

These monthly Blogs are designed to help FIS Members avoid common traps and build on our focus on collective experience.  They share ideas about improving the commercial management of your contracts. In other words, instilling best practice into the way FIS members run and manage their business. What I have endeavored to suggest is ways to ensure you get paid on time, and what you are due.

Lens Blog: Adjudication

Lens Blog: Conflict Avoidance

FIS Consultant Len Bunton continues with the theme of getting paid, and what options are open to FIS members. These monthly Blogs are designed to help FIS Members avoid common traps and build on our focus on collective experience. 

My Blogs to date have attempted to share some ideas about improving the commercial management of your contracts. In other words, instilling best practice into the way FIS members run and manage their business. What I have endeavored to suggest is ways to ensure you get paid on time, and what you are due.

This time I want to talk about two issues. First the Conflict Avoidance Process, or CAP and Adjudication…

Members can see the full blog