Construction companies waiting longer to be paid

12/12/2011 | Forbes

An analysis of accounts receivable of private companies that do construction-related work reveals that contractors are waiting longer to be paid for finished work. For concrete, masonry, and roofing contractors, the study shows the number of AR days has risen from 2010 levels, as have AR days for those in architectural, engineering and related services. However, it is the finishing contractors who wait the longest: about 11 weeks today compared to nine weeks last year. "I think it’s a sign of the difficult times that we as a construction industry have been faced with," said Brian Perlberg, senior counsel for construction law and contracts with the Associated General Contractors of America.

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