Ensuring timely payment for work has been a longstanding issue in the construction industry. The industry is inherently cashflow dependant, interruptions to payments to subcontractors invariably lead to disputes and delays, can jeopardise construction projects and destroy businesses and livelihoods. We have seen widespread issues caused by labour cost increases and supply chain issues, and insolvencies in the industry have had far reaching consequences for owners, suppliers, and subcontractors.
