Late Payments add $40 Billion to Construction Costs

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New report highlights the additional costs from slow payments in the construction industry

From Contract Simply

A report by “Contract Simply”, a construction lender, discusses the added costs in the construction industry due to slow payments. They highlight that added costs to the construction industry are approximately $40 billion annually and that 83% of contractors have filed a lien against a project due to slow payments.

Read the entire report here