Is It A Crime To Pay Interest On Delayed Payments To Contractors?

Is It A Crime To Pay Interest On Delayed Payments To Contractors?

Payment of interest on delayed payment is one of the vital compensations provided in contracts to protect the capital investment of contractors and sustain their cost of financing when the payment due them is delayed.
This also ensures that the contractor is able to maintain his arrangements with his creditors or renegotiate with them for continuous supply of requisite inputs to ensure that construction projects are completed with quality within the stipulated period without disruption.

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By | 2018-06-22T13:45:39+00:00 February 28th, 2018|News|