Abstracts » Construction and materials industries

A distinct lack of interest

Article Abstract:

It is common for UK construction contractors to find that employers do not pay interest on late payments which have resulted from a dispute. It is unlikely that the contractor will be able to take legal action to recover the interest, unless the case involves special damages in respect of a debt. The Late Payment of Commercial Debt (Interest) Bill aims to address this situation. It proposes a statutory right to claim interest on late payment of commercial debts, and aims to encourage companies to use their own contractual terms providing a right to interest in cases of late payment.

Column, Debtor and creditor

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An understanding partner

Article Abstract:

The partnering concept in the construction industry is ill understood, with most people unsure of its details. Creating partnership ventures can be both legally and contractually difficult and it is essential that a legally binding link is not formed. Tips for creating a successful partnering charter are presented.

Building, Developing, and General Contracting, Contract Construction, Contracts, Construction contracts

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The ties that bind

Article Abstract:

The issue of partnering within the construction industry and the effect of making a contractually binding partnering agreement is discussed. The advantages of making such agreements as a sign of commitment are presented.

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