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Get paid fairly
T he effects of not getting paid by a client is serious – it can put a big dent in your profits and even endanger your business. It's smart to have a plan to help manage these incidents – and the FMB is here to support you. Start by calling the FMB legal team for advice as soon as you are concerned about a payment. As well as practical advice, the team can provide you with template letters to send to clients, which are sometimes enough to trigger the payment you are owed. It’s important to get the wording right in these letters as it will enable you to take follow-up action later if needed. Don’t be tempted to write these yourself. This service is part of your membership with no additional charge, so take advantage of it. If this step doesn’t solve the problem, the legal advisor will point you towards a specialist service from one of the FMB’s panel of solicitors for further advice and may send a solicitor’s letter on your behalf, which often succeeds at
getting outstanding monies paid. Ultimately, the solicitor will advise you on making a legal claim. There is an additional charge for this service. Top tip To put yourself in the best position when chasing payments, make sure you document everything about the project you are working on as you go. In particular, if anything changes, you'll need to make sure that all is agreed to in writing. Don’t rely on your good relationship with the client to see you through to payment – things can often change when money is at stake, and leaving a loophole can allow a client to haggle over pay. It’s hard to enforce payment through the courts if you haven’t got everything clearly documented. See page 19 for what FMB member Marun Construction Ltd does to ensure clients pay on time. For free expert advice, call the FMB legal advice line on 0116 243 7623.
Master Builder 30
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