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I wonder how big of a problem customers/clients refusing to pay for completed work or paying really late is across the industry as a whole? Anyone have any thoughts? What percentage of your jobs by value have had these kinds of deadbeat/late issues? Do you think you have seen these kinds of problems more or less than average? Curious about any interesting stories too!
 

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2.3% loss

I wonder how big of a problem customers/clients refusing to pay for completed work or paying really late is across the industry as a whole? Anyone have any thoughts? What percentage of your jobs by value have had these kinds of deadbeat/late issues? Do you think you have seen these kinds of problems more or less than average? Curious about any interesting stories too!
For jobs that pay cash upon completion our loss is 0%. I've been in business more than 40 years and took two bad checks for $800.

My company gives more than $500k in credit every year. I tracked the loss with software for more than 20 years, our loss is exactly 2.3%, and that remains constant. Thus, we collect 97.7% of all the money owed.

For many contractors, who can't write a good contracts and can't fulfill customer's expectations, I've seen the contractors not get paid on so many jobs their businesses folded.
 
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