Get paid on time
Series: Building ; 266(8185) 18 May 2001, 53(1)Publication details: 2001Subject(s): Summary: Emphasises the importance of effective credit management for construction firms to protect themselves from late or non-payment of invoices. Describes a three-stage process which involves obtaining a credit rating of a prospective customer; agreeing an official contract with clear payment terms; and ensuring payment with up-to-date accounting records and reminders. Also advises firms to consider credit insurance to protect against non-payment, and suggests that a well constructed solicitor's letter can avoid a court case. Concludes that whilst legislation has been introduced to reduce late payments, good credit management is still advisable.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | ABS63956 (Browse shelf(Opens below)) | 1 | Available | 112802-1001 |
Emphasises the importance of effective credit management for construction firms to protect themselves from late or non-payment of invoices. Describes a three-stage process which involves obtaining a credit rating of a prospective customer; agreeing an official contract with clear payment terms; and ensuring payment with up-to-date accounting records and reminders. Also advises firms to consider credit insurance to protect against non-payment, and suggests that a well constructed solicitor's letter can avoid a court case. Concludes that whilst legislation has been introduced to reduce late payments, good credit management is still advisable.