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Showing results for tags 'liquidity'.
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A friend Allan) has just called to talk through a problem he's having with his builder. Basically the builder completed the first week on site, building a large lounge, kitchen and dinning room extension. As agreed the first invoice was submitted on Thursday via email, but it arrived without any of the supporting materials invoices as had been agreed in the contract. So Allan emailed the builder pointing this out and after a bit of to-ing and fro-ing a new invoice with the supporting paperwork was submitted for a lower amount late on Thursday night. Allan then goes to London on business early on Friday, anyway during he day he gets an email and two voice messages on his personal phone (switched off because he's with a client all day) wanting to know where the invoice payment is? He only gets these messages when he turns on his personal phone on 6.27pm train home. He emailed the builder saying he'll deal with it over the weekend. He then gets a call on Saturday from the builder saying that there is a problem with a delivery of materials booked for Monday morning, from a local builders merchants. Apparently the BM have just been taken over (true) and have cut his business credit limit. Allan is a senior project manager, so has done all the due diligence on his shortlisted builders, before appointing this one. He's now worried about the builders liquidity. Any suggestions as to the best way forward that will protect Alan's position?
