Transcription of Contractor and subcontractor insolvency
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Contractor and subcontractor insolvency
Contractor and subcontractor insolvency January 2010 1 Early warning signs: what sort of behaviour or warning signs might indicate a Contractor beginning to get into trouble? The Contractor 's employees not turning up for work or a general decrease in the amount of labour on site. A slow-down in progress of the works. Plant, equipment and materials "disappearing" from site. An increase in the number of defects to the works. The Contractor seeking to negotiate further payments or release of the retention, or any other change in payment patterns (such as an advance payment or more frequent instalments or certificates). The Contractor raising spurious or unjustified claims or contra-charges to increase the amount payable to it. The Contractor assigning (or seeking the employer's consent to assign) the proceeds of the building contract to a bank or other creditor.
Insolvency.DOC 1 Early warning signs: what sort of behaviour or warning signs might indicate a contractor beginning to get into trouble? 1.1 The contractor's employees not turning up for work or a general decrease in the
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