Our highly experienced construction lawyers and debt teams have joined forces to provide a specialist debt recovery service for the construction industry.
With our help you can recover:
General debt
We can tailor our debt recovery service to meet the needs of your business. We know that aged debt can sap the commercial strength of your business and our service is designed to help you improve your cashflow.
Variations and final account balances
Variations to the scope of work gives rise to many issues including payment for preliminaries, re-rating for substantial changes in conditions and entitlement to extensions of time and loss and expense. These issues may need to be referred to a member of the specialist construction team. However, often a variation is clearly established and rates are not disputed but nevertheless payment is not made. Similarly, final account balances are not released although there is no valid notice of withholding against them. It may well be possible to recover such monies on a debt collection basis. We have the expertise to provide advice as to whether a simple debt collection approach can be adopted or not and then, if appropriate, pursue the debt on your behalf.
Book debts
From time to time you may accrue substantial book debt. Recovering book debts can inject cash back into your business at little cost. We have been able to collect hundreds of thousands of pounds for clients in just a few weeks. We can offer specialist rates and tailored packages for seeking to recover a book of debts.
Retention monies
Retention monies are a major problem for both main and sub-contractors. Keeping track of when retention monies fall due and seeking payment for each and every contract is an onerous task, but, if done, can assist with cashflow and avoid monies becoming long overdue. We have developed a system for recovering overdue retention money and our specialist knowledge can defeat arguments in favour of non-release of retention resulting in quick release of retention monies.
Using our knowledge of the JCT contracts we can work with you to set up a system to monitor and record when retentions fall due.
For more information on construction debt recovery rates and packages for: general debt, variations and final account balances; book debts or recovering retention monies please contact
Gill Payne or
Philip Harris.
