Corillian 120 day payment terms

2 years ago we used to do work for Barratt homes south west , at the end of phase 1 an to take on phase 2 they wanted us to start in January an not pay us until July so that there mid year figures looked good
They asked all trades on the site to do it , needless to say we walked away
Scandalous how big company's like that think they can get away with murder
 
l the smaller firms are held back from growth by the the big corporations


"Construction giants 'bullying' small businesses
Giant Government contractors are flouting a rule that obliges them to pay suppliers promptly, stifling small companies’ growth and, in some cases, putting their survival at risk."

This is a quote from the telegraph in oct 2012 shows how the system is run by
 
desp said:
2 years ago we used to do work for Barratt homes south west , at the end of phase 1 an to take on phase 2 they wanted us to start in January an not pay us until July so that there mid year figures looked good
They asked all trades on the site to do it , needless to say we walked away
Scandalous how big company's like that think they can get away with murder
Click to expand...

Barratts are notorious for this, Their management staff (and directors) are paid bonus on a 6 monthly cost margin. If they sell dwellings in May then the 6 month period to June will seem to be profitable when their bonus calcs are made. If the contract is going to slow down later in the year then some of the mid-management staff will cut and run.
 
Oh No, I just found this old post while I was looking for something else, and after reading an article in the paper about the warning signs were there for investors it caught my eye.
wonder who will be next :mad:
 
It will be interesting to see what happens after March 29th. My feeling is that a slow down in construction will certainly hit the South East latter part of 2019.
 
We also forecast a downturn, not just with brexit, the governments help to but scheme has helped the developers no end:sad2:, but its gonna catch up with these poor souls who took these out and when they have to start repaying 2 loans, the sh*t will hit the fan and the words "negative equity" will be heard again :sad2:
 
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