UK debt collections

MARCH 24, 2022

UK contractor late payment has been increasing since the start of the covid-19 outbreak two years ago. More than two-thirds (65%) of contractors have experienced slower payments since the start of the pandemic , according to research carried out by Lloyds Bank Commercial Banking.

Construction 83

Construction Banks Credit Management Debtor 83

Jimerson Firm

OCTOBER 1, 2020

On September 18, 2020, Florida Governor Ron DeSantis signed House Bill 101, an act relating to public construction , into law. In most construction contracts, payments are made to contractors in installments as the project work progresses, usually on a monthly basis, with the payments generally referred to as progress payments.

Construction 98

Construction Government Law Firms Trade 98

Jimerson Firm

APRIL 5, 2021

When a building owners hires a contractor to construct a building or other construction project, the contractor is often significantly more experienced when it comes to the ins and outs of the construction contract as well as the overall construction process. Construction Contract Scope of Work. Payment Terms.

Construction 98

Construction Loans Lender Government 98

Jimerson Firm

JULY 1, 2021

On July 1, 2021, Florida Senate Bill 378 takes effect and amends a number of Florida Statutes governing prompt payment on various types of Florida construction projects. These changes apply to any construction contracts executed on or after July 1, 2021. of the Florida Statutes, plus 12% per annum.

Construction 92

Construction Government Collections 92

Jimerson Firm

OCTOBER 7, 2020

Teaming agreements in the construction world, also referred to as teaming arrangements, are agreements between two or more independent companies to combine their resources, abilities, and knowledge, for the purpose of obtaining and, if successful, performing a competitive bid construction contract. Types of Teaming Agreements.

Construction 98

Construction Law Firms Lawyers Government 98

Jimerson Firm

JANUARY 23, 2023

Material suppliers in the construction industry will often need to extend credit to their contractor and subcontractor customers due to the payment cycle on construction projects that can often run 30 days, 60 days or even longer.

Construction 52

Construction Manufacturing Bankruptcy Judgment 52

Jimerson Firm

FEBRUARY 18, 2021

Florida’s Construction Lien Law found in Chapter 713, Florida Statutes, may seem like an area of the law that is only relevant to contractors and property owners. However, there are important aspects of the Construction Lien Law that can directly affect the rights and obligations of lenders in numerous ways. Specifically, under Fla.

Construction 98

Construction Lender Loans Banks 98

Jimerson Firm

JULY 12, 2023

Florida construction lien and bond law is an ever-evolving statutory creature. Chapter 713 (pertaining to construction liens) and Chapter 255 (pertaining to public project bonds) of the Florida Statues should be reviewed regularly. Statutes & Constitution :View Statutes : Online Sunshine (state.fl.us) 713.01

Construction 52

Construction 52

UK debt collections

OCTOBER 27, 2022

A rogue construction firm has been shut down due to an elaborate and deliberate business credit scam. The company operated two businesses, NB Construction and NB Wholesale. Between February and April 2021, it ordered various construction goods on business credit under each name following approaches to suppliers.

Construction 59

Construction Trade Collections 59

Jimerson Firm

MARCH 8, 2021

On Wednesday, March 3, 2021, three of our partners and members of our Construction Industry team presented 15 Critical Construction Contract Provisions: How to Use Them to Protect the Project and Your Bottom Line. Some can be satisfied in concise, short proposals while others require more detailed sections. Scope of Work. Extra Work.

Construction 52

Construction 52

Jimerson Firm

APRIL 29, 2021

As a subcontractor, payment for your work is critical. Does the General Contractor Have Grounds to Withhold Payment? If a subcontractor is not getting paid for work on a construction project, the subcontractor must first determine whether the general contractor has grounds to withhold payment and consult the subcontract.

Mechanic’s Liens 98

Mechanic’s Liens Construction Foreclosure Government 98

Jimerson Firm

JUNE 1, 2021

One of the most important aspects of construction project success for subcontractors can be the subcontract agreement. Other subcontract provisions are also important, so having an attorney experienced in construction law evaluate the subcontract is recommended. Subcontract Payment Terms. Subcontract Scope of Work.

Construction 98

Construction Government 98

Jimerson Firm

JULY 10, 2020

Contractors cannot file mechanic’s liens on public construction projects, such as work on military bases, courthouses, or government owned buildings. 3131-3134 , fills in this gap by protecting certain levels of subcontractors and material suppliers from general contractors who fail to pay them on federal construction projects.

Construction 80

Construction Mechanic’s Liens Government Law Firms 80

Jimerson Firm

AUGUST 9, 2021

This statute, known as Florida’s construction statute of repose, imposes a strict 10-year deadline on any legal claims founded on the design, planning, or construction of an improvement to real property in Florida, with any claims not brought within the deadline completely barred. 3)(c), Florida Statutes.

Construction 98

Construction Government Healthcare 98

Jimerson Firm

JANUARY 20, 2021

Construction contracts may contain either a pay-if-paid provision or a pay-when-paid provision. Both provisions are considered contingent payment clauses because they make payment to the subcontractor contingent on the general contractor receiving payment from the owner. Pace Construction Corp.

Construction 90

Construction 90

Jimerson Firm

APRIL 1, 2021

On Wednesday, March 31, 2021 from 12:00 PM-1:00 PM, three of our partners presented Critical Construction Contract Provisions: What Subcontractors Should Know to Protect Their Bottom Line. The post Critical Construction Contract Provisions for Subcontractors appeared first on Jimerson Birr. “Joby” Birr , Austin B.

Construction 52

Construction 52

Jimerson Firm

AUGUST 14, 2020

Managing Problem Construction Projects in Turbulent Times: Tools for Success is a multi-part education series designed for business owners and leaders in the construction industry. This webinar was presented by three of our partners from the construction industry team. Presenters: James O. “Joby” Birr, III, Esq.

Construction 52

Construction Law Firms Education 52

Jimerson Firm

JULY 22, 2020

Managing Problem Construction Projects in Turbulent Times: Tools for Success is a multi-part education series designed for business owners and leaders in the construction industry. This webinar is presented by three of our partners from the construction industry team. Presenters: James O. “Joby” Birr, III, Esq.

Construction 52

Construction Law Firms Education 52

Jimerson Firm

OCTOBER 27, 2020

The webinar covered options subcontractors and suppliers can take upon nonpayment on a construction project. The presentation reviewed non-payment issues, and provided ideas for planning, due diligence, and best practices that subcontractors and suppliers can employ when their receivables go unpaid.

Construction 52

Construction Law Firms Education 52

Jimerson Firm

JANUARY 23, 2023

A recent opinion by a Florida appellate court, Construction Consulting, Inc. The Facts of the Case Construction Consulting, Inc. (“CCI”) CCI”) was party to a Master Contract with Broward College under which the College hired CCI to work on numerous construction projects.

Construction 52

Construction Creditors Judgment Government 52

UK debt collections

MAY 30, 2022

This marks an increase in Small Business late payment. Average late payment days increased by 1.8 Xero says tougher economic conditions caused by rising inflation have left the UK’s small businesses squeezed tighter between soaring energy bills and wages on one side, and slower consumer spending power and late payments.

Retail 75

Retail Manufacturing Construction Collection Agencies 75

UK debt collections

MARCH 13, 2023

Time is Money: Late payments ‘stifle’ small businesses across UK report shows The Federation of Small Businesses (FSB) has released a report that uncovers the true scale of damage caused by the late payments crisis as entrepreneurs say: ‘ enough is enough.’ Make the Prompt Payment Code (PPC) mandatory for all local authorities.

Construction 64

Construction Government Education Trade 64

UK debt collections

NOVEMBER 13, 2020

Delayed payments continue to plague suppliers, particularly Small Businesses, and unfortunately, the global pandemic has only worsened this pain point. In one instance, a brand required 60-day payment terms of a vendor, then filed for bankruptcy 14 days later. ” $1.16

Retail 109

Retail Construction Bankruptcy Government 109

Jimerson Firm

NOVEMBER 12, 2020

Pursuant to the Miller Act and Florida’s Little Miller Act, when certain subcontractors and material suppliers have not been paid on public construction projects, they must file their lawsuit on the payment bond within one-year after the last day labor was performed or materials were supplied to the project. Section 3131 to 3134.

Construction 98

Construction Mechanic’s Liens Government Law Firms 98

UK debt collections

OCTOBER 26, 2022

The majority of UK firms have experienced suppliers refusing to do business with them because of late payments, according to a survey. Timely payments are critical to gain favour with suppliers, helping to open the door to better collaboration.”.

Manufacturing 59

Manufacturing Government Construction 59

UK debt collections

JULY 16, 2020

The research conducted by Accountancy firm Moore has shown that 41 days is the average waiting time for payment. The continuing problem of payment delays would suggest that Government legislative initiatives to tackle this issue, such as the Prompt Payment Code are simply not working. This is the same as it was in 2015.

Construction 74

Construction Manufacturing Trade Government 74

UK debt collections

OCTOBER 31, 2022

With the UK economy likely to fall into a recession, small business late payments were made on average 8.2 This is the highest small business late payment time since August 2020 according to the latest data from Xero, the global small business accounting platform. y/y) and construction (-7.4% days later in September.

Manufacturing 59

Manufacturing Retail Construction Government 59

UK debt collections

FEBRUARY 19, 2022

A Construction Boss from West Midlands has been disqualified following investigations by the Insolvency service. In addition, outgoing payments of £2,205,375 were not explained. The man, Mitchell James Smith, aged 40, from Dudley, has been disqualified as a director for 7 years. Smith could offer no explanation for these monies.

Construction 52

Construction Trade Creditors 52

Jimerson Firm

DECEMBER 22, 2022

As a general contractor, subcontractor, or supplier, you have likely experienced problems collecting final payment from your customer. The check was for less than the contractor was owed, and the contractor later declared to the owner that it accepted the check only as a partial payment of the debt. Should you deposit that check?

Debtor 52

Debtor Creditors Construction Collections 52

UK debt collections

JANUARY 23, 2024

“The construction industry, which has long been a bellwether for the health of the economy, looks particularly vulnerable with over 70,000 firms now in significant financial distress and circa 6,000 in much more serious critical financial distress – often a precursor to formal insolvency,” she added.

Construction 88

Construction Retail Government 88

UK debt collections

MARCH 5, 2024

Sectors such as retail, manufacturing, construction, and real estate are particularly vulnerable due to weaker demand and higher borrowing costs. Uncertainty due to non payment Uncertainty is on the rise, from geopolitics to rising non-payment risk. This is compared to 14% in France, 9% in Italy, and 7% in Germany.

Construction 93

Construction Manufacturing Retail 93

UK debt collections

SEPTEMBER 4, 2023

A swathe of major contractors are still failing to pay invoices on time , according to their own payment data. Other late-paying builders include McLaren Construction (26 per cent of invoices), VolkerWessels (25 per cent), McLaughlin and Harvey and ISG (21 per cent) and Wates (20 per cent).

Construction 59

Construction Government Trade 59

Fico Collections

SEPTEMBER 3, 2020

The UK’s financial watchdog is now calling on UK banks to continue to provide support to mortgage customers when the government-enforced payment holidays come to end next month. million consumers — taking advantage of payment relief, the onus is on us to identify these customers and offer them constructive support through this crisis.

Construction 52

Construction Debt collector Collections Banks 52

Jimerson Firm

JANUARY 10, 2023

In construction projects, the owner sometimes hires a person or entity to act as the owner’s representative to facilitate the project and act as the point of contact in a representative or agency capacity on the owner’s behalf. The decorator filed a construction lien, and sued the owner for payment. The owner appealed.

Construction 52

Construction Judgment 52

UK debt collections

JUNE 26, 2023

Construction and retail are the hardest hit sectors PwC said construction and retail were the hardest-hit sectors, and the number of food manufacturers in trouble was also increasing. Howard Russell Construction became one of the largest casualties in the industry when it brought in advisers from FRP Advisory to handle its insolvency.

Construction 59

Construction Retail Manufacturing Trade 59

UK debt collections

NOVEMBER 6, 2020

. ‘Tide’ commissioned YouGov to survey small business decision makers, including sole traders, to discover their payment terms, how often they experience late payments, and the actual duration before invoices were settled. Tide calculated that the average payment term was 15 days. Construction. Manufacturing.

Construction 87

Construction Retail Manufacturing Banks 87

FFGN COLLECT NY

DECEMBER 8, 2023

A general contractor on a construction project has direct contact with the project manager, owner, or developer running the project. The connection, “privity” of contract, results in smoother communication and a higher likelihood of payment to the general contractor. We have the experience that pays.

Collections 52

Collections Construction 52