Insolvent contractor

Signs that indicate that the contractor may be financially unstable include:
  • submission of a claim followed by a request for payment in a reduced period (maybe due to pressure from creditors)
  • overclaiming for work not yet complete or materials on-site but not fixed (particularly worrying where overclaiming occurs regularly)
  • subcontractors working more slowly than expected or not coming to site (perhaps they are not being paid)
  • job progress is generally unsatisfactory.
Should these or other signs of financial problems appear: