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Countermeasures to prevent payment default in construction fields

Gao Lu-wei

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Abstract

This article explains the causes of project payment default in construction fields and expounds on the corresponding measures against project payment default:standardizing the construction market,strengthening legal system in construction fields,improving project guarantee system,improving the credit management and enhancing the risk-prevention consciousness of contracting enterprises.We also put forward some countermeasures and thoughts on how to get rid of project payment default.

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What this paper is about

This article explains the causes of project payment default in construction fields and expounds on the corresponding measures against project payment default:standardizing the construction market,strengthening legal system in construction fields,improving project guarantee system,improving the credit management and enhancing the risk-prevention consciousness of contracting enterprises.We also put forward some countermeasures and thoughts on how to get rid of project payment default.

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Available abstract

This article explains the causes of project payment default in construction fields and expounds on the corresponding measures against project payment default:standardizing the construction market,strengthening legal system in construction fields,improving project guarantee system,improving the credit management and enhancing the risk-prevention consciousness of contracting enterprises.We also put forward some countermeasures and thoughts on how to get rid of project payment default.

Key concepts: Payment, Business, Default, Countermeasure, Finance, Actuarial science, Risk analysis (engineering), Engineering

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