Pete talks about collecting cash owed and some methods for attaining payment easier.
Different parts of the country are experiencing different levels of business activity. Parts of our great country are still enjoying the benefit of a strong construction market while others are not so fortunate. Prompt payment from general contractors and owners is critical to all subcontractors no matter what your volume or workload. Many subcontractors send a bill and then wait until they get paid. Maybe the limit is 30, 60, 90 or 120 days before meekly asking the status of payment? For those whose limit is 90 days before becoming concerned, let’s do a little math.