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Contractor Payment Terms | Everything You Need to Know

Publication date:
February 11, 2023
Article Summary: 

This article provides comprehensive information about contractor payment terms in the construction industry. It emphasizes the importance of defining clear payment terms in contracts to ensure timely and accurate payments. The article covers various aspects of payment terms, including their definition, importance, negotiation, and enforcement. It also discusses strategies for managing payment schedules, dealing with late payments, and incentivizing early payments. Additionally, the article highlights the role of technology, such as construction project management software like Buildern, in streamlining invoicing and payment processes for contractors.


Contractor payment terms, construction industry, payment schedules, late payments, early payment incentives, invoicing, contract negotiation, payment methods, Buildern, construction project management software

Source Citation: 
Contractor Payment Terms | Everything You Need to Know
February 11, 2023
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