DemolitionNews’ Mark Anthony takes exception to extended payment terms.
Call me old fashioned, but I still hanker for the days when a product or service was sold and then payment was received in a timely manner.
Sadly, we now live in a post-recessionary age in which main contractors and clients boast openly about how they have pushed their payment terms to 45, 60 and even 90 days; an age in which a whole generation of credit controllers now perceive their primary objective to be sitting on cash until a court summons arrives.
And for all the talk of Fair pay schemes, it is the specialist and sub-contractors – those at the bottom of the industry pecking order – that are made to suffer:
