The construction industry can be fruitful, with new developments and renovations happening all the time. That being said, running a construction firm is by no means easy. You have to speculate to accumulate and your business relies on being paid on time for the tasks you complete.
Unfortunately, things don’t always work out this way and there are occasions where clients refuse to pay. Outlined below are a few signs that your client may be trying to skip a payment.
You can’t get a hold of them
Before the project started you and the client were in constant discussions. There was mutual excitement and anticipation about getting underway. Now that the work has reached its conclusion, the client is nowhere to be seen. They are not returning phone calls or emails. This could be a sign that they are aware the payment date is approaching and they want to avoid it.
During the planning stage of the construction project, you and the client worked together and came up with a suitable arrangement. The project was completed by following the plan to the letter. However, the client has decided that they want some last-minute changes and are not quite happy with what was agreed upon in the first place. Last-minute revisions are often used as a stalling tactic to reduce the price or avoid payment altogether.
Securing your payments
While you can’t stop someone from trying to avoid payments, you can secure your rights. The best way to do this is by having watertight legal contracts. Seek further guidance to find out how you can implement these in your construction business.