In Praise of Escrow for Taking Tension Out of Construction Payments

I was working for a general contractor on several fast-track student housing projects in the late 1990s to fill a need in the Boston area, especially on smaller campuses that had limited space.

What Happens When Payments are too Slow in Construction

The slow payment process is a problem that we have to deal with in the construction industry. As a contractor or subcontractor, you aim to complete the project within budget, on time and make profits. If payments delay, that is going to affect your cash flows and the ultimate success of the project. Therefore, the question of what happens when payments get slow is very relevant.

What are the contract conditions regarding payments for omitted works

Payar

Get paid for the work you've done instead of using credit, factoring, or invoice financing. One-time fee instead of interest payments Just a single early pay discount that you choose instead of ongoing borrow fees and interest payments. Control your costs and terms Set your own terms on payout timelines that make sense to your businesses needs.