Are you receiving me?

Article Abstract:

Many construction industry contractors struggle financially, but they can usually manage to survive as long as they have a good relationship with their bank. If the bank decides to impose stricter lending conditions, for example, the contractor can be plunged into a situation which makes it impossible to continue trading. In many cases, companies which are regarded by accountants as reasonably sound have been forced to close down simply because banks are unwilling to be flexible.

Construction, Finance

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Crown commission

Article Abstract:

The Constructors Liaison Group, an umbrella organisation for specialist contractors, is seeking support from MPs for legislation which would outlaw late payment. Many MPs seem unaware of the specific problems of late payment in the construction industry, and those questioned on the issue have made suggestions which are completely impractical. Observers often claim that the government pays more attention to large national contractors than to small sub-contractors.

Debtor and creditor

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Terms of disappointment

Article Abstract:

The DOE has produced a consultation paper for a construction contracts bill. However, the new paper totally ignores the recommendations made by Sir Michael Latham in his report of July 1995 entitled 'Constructing the Team'. Latham proposed making unfair contracts illegal. The DOE officials are out of touch with the construction industry's current problems.

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

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