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Home / Industry / Construction / When contractors aren’t paid on time, costs add up (access required)

When contractors aren’t paid on time, costs add up (access required)

The cost of slow payments to subcontractors for wages and invoices adds an average of 5 percent to total project costs — totaling a staggering $64 billion annually nationwide — according to a recent survey by a construction finance software firm. Payments are made on average in 51 days, according to the survey of general contractors and subcontractors ...

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