Construction Payment Management
The construction payment process is complex, involving multiple layers of participants and procedures. Ultimately, the payment process is riddled with financial risks that are perceived differently by the different parties in the payment chain. Managing this process requires parties to juggle significant cash and working capital challenges, but perhaps the most frustrating aspects of construction payment are the administrative burdens (i.e. paperwork) and leveraging tactics that saddle the process. And an intricate part of every construction payment is the lien waiver process, which is a paperwork nightmare and a process too frequently abused by paying parties to improve their legal positions.