An analysis on causes of late final payment and release of retainage: Electrical subcontractors' view
Using the survey approach, this study identified the underlying causes of late payments and release of retainage for electrical subcontractors, attempting to answer the questions, "What were the minimum, maximum and average delay days of final payment and release of retainage?", "What were the rank of factors in terms of significance on delaying final payment and release of retainage?", and "What were the rank of factors in terms of frequency on delaying final payment and release of retainage?" A survey questionnaire was developed and distributed to about 150 professionals in electrical subcontractors. 29 reports were collected. Based upon the analysis of data, the mean value and most common value of minimum, maximum, and average delay days were concluded. Also, a detailed analysis on the significance and frequency of each factors were conducted. The contribution includes ranks of factors based on significance and frequency in terms of delaying final payment and retainage, and suggestions to improve cash efficiency for electrical subcontractors.
Rapp, Purdue University.
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