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For many subcontractors, late payment is the norm, and nonpayment is all too common. With many reasons for payment issues and the blame running up and down the contracting chain, the same collaborative approach embraced by contractors in the field can, and should, be implemented in the back office.
This article outlines a path forward to short-circuit the traditional payment issues and streamline the payment process.
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Nathan Budde is Chief Legal Officer at Levelset in New Orleans, LA.
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