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Insight into the $100 billion domino effect of slow payments in the construction industry.
The 2020 Construction Payments Report, exploring the rapidly accelerating costs associated with slow payments in the construction industry, is now available.
Based on a survey Rabbet conducted in September 2020, general contractors and subcontractors estimate that the cost of floating payments for wages and invoices represents $100 billion in excess cost to the industry, a 56% increase from the cost reported in 2019. Findings indicate those costs are passed on to real estate developers and financiers in the form of higher bids from contractors and project delays.
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