Economic crisis has brought about big impact on finances of Main-contractors in 'building small scale projects'. These projects range from anything $5million or less. Scope of works involved A&A, rebuilding, remodelling works on private residential projects mostly.
We can not possibly stop all works. So how to reduce your Risk?
1. Payment strictly according to project status
2. Check regularly on project progress & status yourself
3. Speak with sub-cons about Main-con finances & payout to subcons
4. Pay direct to sub-cons instead of Main-con
5. Ideally, be your own project manager or pay minimun fees to engage one. Manage your own projects, select & appoint your own suppliers
All the best ! reference listing .. Click here