Professionals know the importance of solid contracts. Contracts establish the terms of the real estate deal, helping ensure that the transaction goes smoothly for all parties. Still, it seems that no matter how specific and legally solid the contract, there are bound to occasionally be contract disputes.
Many contractors in the construction industry complain about the difficulty of keeping their accounts receivable and payable in sync with one another. Accounts receivable cycles invariably lag behind accounts payable cycles. However, that is no excuse for subcontractors, suppliers and the like to not receive timely payment for goods and services rendered.