Strategies Addressing Payment Delays in Construction Industry - Gawugah, Daniel
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Construction is said to be one of the major contributors to Ghana's economy therefore making payment the central focus for both the contractor and the client. It is for this reason that understanding the subjects of payments becomes crucial to both of them. Nevertheless, delayed payments causes severe cash flow problems especially to contractors resulting in the lock up of capital that is supplied from the company's cash reserved or loans with high interest rate and also result in high rate of unemployment as a result of many construction contractors going on liquidation or bankruptcy. This…mehr

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Produktbeschreibung
Construction is said to be one of the major contributors to Ghana's economy therefore making payment the central focus for both the contractor and the client. It is for this reason that understanding the subjects of payments becomes crucial to both of them. Nevertheless, delayed payments causes severe cash flow problems especially to contractors resulting in the lock up of capital that is supplied from the company's cash reserved or loans with high interest rate and also result in high rate of unemployment as a result of many construction contractors going on liquidation or bankruptcy. This book sought to identify the effects, existing strategies and explore innovative strategies to mitigate the effects of delayed payments.
Autorenporträt
Eng. Gawugah Daniel is the Head of Urban Roads Department in Agona West Municipal Assembly, Agona Swedru in the Central Region of Ghana.He has obtained MSc construction management from Kwame Nkrumah University of Science and Technology, Kumasi-Ghana. He is a member of Ghana Institution of Engineering and Technologists, IET-GH.