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Reason and Countermeasure of Project Payment in Arrears in Building Sectors

Zhou Ju

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Abstract

The payment in arrears in building sectors has become a social problem that hampers economic development, and brings a number of side effects for construction industry and social economic order, which result from lack of building fund, imperfection of trust restriction mechanism, in order to healthy and orderly development of construction market, should strengthen legislation, perfect all kinds of regulation and system, and settle project payment and worker's pay in arrears by the roots.

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What this paper is about

The payment in arrears in building sectors has become a social problem that hampers economic development, and brings a number of side effects for construction industry and social economic order, which result from lack of building fund, imperfection of trust restriction mechanism, in order to healthy and orderly development of construction market, should strengthen legislation, perfect all kinds of regulation and system, and settle project payment and worker's pay in arrears by the roots.

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Available abstract

The payment in arrears in building sectors has become a social problem that hampers economic development, and brings a number of side effects for construction industry and social economic order, which result from lack of building fund, imperfection of trust restriction mechanism, in order to healthy and orderly development of construction market, should strengthen legislation, perfect all kinds of regulation and system, and settle project payment and worker's pay in arrears by the roots.

Key concepts: Arrears, Payment, Countermeasure, Order (exchange), Business, Legislation, Finance, Engineering

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