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Debts and Disputes

Debts, disputes and payment issues can cause a real impact on your business' cash flow meaning the right advice and guidance can be essential.

Especially in this economic climate getting paid in full and on time is critical. Unwanted pressure can arise when payments are not made or they are delayed which in turn impacts on your cash flow.

All businesses incur debts. Problems occur when the debts fail to be paid or collected - suddenly, there is a break in the credit control; a gap in the cash flow.  

Alternative Dispute resolutions

Businesses always have the option of pursuing debts through the Courts using the litigation process, however, there are also a number of alternative dispute resolution options available.  

The three main options for dispute resolution in the construction sector are:

mediationoften the cheapest method as it can bring about a compromise agreement on the day.

adjudication - the primary method of dispute resolution within the construction industry due to cost efficiency and speedy nature of the process. You now have the right to refer a dispute to adjudication at any point, even after you have finished your works.

arbitration - only suitable for disputes of over £50,000

 As a BESA member you can download our handy debts and disputes overview which explains the alternative dispute resolution options.

Litigation

Litigation is the process you enter into when you sue someone. 

As a BESA member you have access to the legal and commercial teams' expertise - they will look at your case and advise on the best method of dispute resolution helping to achieve the best result for your individual circumstances.  

Insolvency proceedings

Insolvency proceedings are when you 'threaten' a Debtor with bankruptcy or 'winding-up' proceedings. 

If your debt is over £750 a statutory demand is the legal document used to do this.

As a BESA member you have the support of the legal and commercial team who support you by writing your statutory demand.  

Here to help...

The BESA Legal team are experts in issues which can be used as commercial leverage and tactics that can be employed in order to maximise your ability to recover monies you may be owed or to reduce your exposure to bad debt. We can advise on when and which method of debt recovery or dispute resolution is best for your situation and business model.

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