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When an owner doesn’t pay their agreed progress payment on time, you have options when using a HIA contract. Interest can be charged using a calculation outlined in this handy resource.
Find out what the default interest rate are, how to determine the total fees to be charged to the owner and use our real-world example to make the process simpler.
HIA contracts set you up for avoiding payment hassles and encouraging your client to pay on time, every time.
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Building professionals dealing with late progress payments.