Popular Articles
Debt recovery: reduce late payment of debts
Thursday, May 16th, 2013If your business suffers from a high incidence of late or non-payment it may be time to re-consider your approach to chasing customers or clients. A simple but effective means of reducing late and non-payment by customers is to ensure you have devised and put in place a formal procedure for invoicing, following-up invoices and
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Payment provisions under the “New Construction Act”
Wednesday, March 13th, 20131st October 2011 heralded the implementation of the “New Construction Act”. If you have entered into a construction contract after that date then you will be operating under the new Act. If it was hoped that the new Act would simplify and regularise payment procedures, then we believe it has failed. The provisions of the
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Where there’s blame: damages claims against property professionals
Wednesday, March 13th, 2013Property and development professionals are being reminded of the importance of having tightly drafted contracts and terms of business following a decision by the Court of Appeal to uphold a claim for damages made by a developer against a consulting engineer. In the recent case of John Grimes Partnership Ltd (JGP Ltd) v Gubbins [2013]
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Delays and time extensions under JCT contracts
Tuesday, December 18th, 2012The recent decision of the Technology and Construction Court in the case of Walter Lilly & Co Limited v Mackay and DMW Developments Limited will be of interest to both contractors and employers in the construction industry. Water Lilly & Co Ltd (WLC), the contractor and claimant in this case, was appointed under a JCT
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Essex construction company digs up own work over bill dispute
Friday, November 30th, 2012An Essex based construction company has taken the drastic action of digging up its own work when its employer went into administration and it materialised they were not going to get paid for work they had completed to a local leisure centre. Unidig, based in Benfleet, helped complete work to build a brand new all-weather pitch
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Essex businessman disqualified from being a director owing creditors £3.18m
Monday, November 5th, 2012The director of an Essex based cash & carry business has been disqualified by The Insolvency Service and banned from being a director for seven years. Mr Nazim Osman ran Cube Cash & Carry Limited in Barking which traded predominantly in beers, wines and spirits. The company was wound up on 3 December 2008 owing creditors
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Invoice, credit sales and payment terms of UK businesses
Tuesday, August 14th, 2012Ever wondered how your business’ invoice payment terms compare to those of other companies, or whether your customers are particularly bad at paying on time and in full. Using survey results from Atradius’ Payment Practices Barometer, this article sheds light on average payment terms in the UK as well as rates of uncollectable debts and
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Small businesses spend 130 hours recovering debts
Friday, August 3rd, 2012Research conducted by RBS Invoice Finance found that on average small businesses spend 130 hours chasing late payments by creditors and have to wait an additional 30 days over and above the agreed terms of their invoice before receiving or recovering payment. For many small business owners and managers these findings will not come as
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Alternative Dispute Resolution – By Peter Barnes (Blue Sky ADR)
Tuesday, July 24th, 2012Alternative dispute resolution (ADR) provides a voluntary alternative to the accepted practice of using the courts to settle civil disputes. The principle forms of ADR are mediation, conciliation, adjudication, and arbitration. The best known and most commonly used forms of ADR in the UK are arbitration and mediation, but adjudication (particularly in the construction industry)
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Construction Law: requirement to progress construction works
Tuesday, July 24th, 2012The timing of works carried out by sub-contractors often has huge implications for whether or not a main contractor is able to complete a construction project on time. Construction contracts will usually therefore make provision for how works are to be progressed by the sub-contractor and the consequences of any delay or failure. However, in
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