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Payback T


You may have come across the ECA Debt Recovery Service – but how can it work for your business? And how can you help yourself in the fi ght to get paid? Bob Partridge from Effective Credit Collections gives some advice


he current recession has created a whole series of challenges for businesses across the country. However, the challenge facing the construction industry has been exacerbated by a general lack


of cash fl ow, the constant struggle for sub-contractors to


time


secure payment for work done – and, it has to be said, an endemic culture of wilful non-payment in the industry. The continuing attempts to ‘knock’ the value of sub-contracts to ensure profi t on contracts tendered at, or below, cost has become almost routine, and this leads to a culture of suspicion between contractors and sub-contractors when a cooperative and collaborative approach would clearly be more desirable. In this article, we look at some thoughts and guidance on


how to try to minimise the circumstances in which debt is incurred – and how to give yourself the best opportunity to get paid when payment problems do occur. Effective Credit Collections Limited has been the recommended provider of debt collection services for


58


ECA Today September 2011


SHUTTERSTOCK


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