In the construction industry, where large sums of money are exchanged between various parties, the risk of fraud is a constant concern. Construction projects involve multiple stakeholders, including contractors, subcontractors, suppliers, and vendors, making it crucial to have secure payment processes in place. One effective way to prevent fraud in...
Understanding Payment Compliance for Construction Businesses
In the construction industry, payment compliance plays a crucial role in ensuring fair and timely compensation for all parties involved in a project. It refers to the adherence to laws, regulations, and contractual obligations related to payments in construction projects. Payment compliance is essential for maintaining healthy relationships between contractors,...