Getting paid on time is not something those working in construction have ever really been used to. Even before developers were strapped for cash, it was usual for contractors, subcontractors, architects, consultants and all others further down the chain to receive their dues two months or more after submitting an invoice.
But back in the heady days when developers and contractors happily shook hands on billion-dollar deals and set off into the sunset to bring an architectural drawing to life, nobody really cared.
With all the money that was around, those in the business could count on getting what they were owed some day. They could also count on getting more work, which came with a profit margin of about 15 per cent.
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