Effects of delayed payment of contractors on construction project delivery in Nigeria

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dc.contributor.authorAkinsiku, O. E.
dc.contributor.authorAjayi, O.M.
dc.date.accessioned2020-01-14T14:45:47Z
dc.date.available2020-01-14T14:45:47Z
dc.date.issued2016-09-20
dc.descriptionStaff publicationsen_US
dc.description.abstractDelay in paying construction contractors has impacted negatively on the effectiveness of the contractor and as such affect project delivery schedule. Failure to pay contractors for work executed might lead to the contracting firm being insolvent. This research is a form of quantitative research and it a cross -sectional research survey which is a combination of descriptive and explanatory research design. The population of the study comprises of clients, consultant and contractors. A total of 65 questionnaires were distributed and 47 were returned and used for the analysis. It gives a response rate of 72%. Random sampling technique method was used, thus the respondents has equal chances of being selected. Statistical package for social sciences (SPSS 20th version) was used to analyse the data via descriptive and inferential statistic. The finding shows that the causes of delayed payment were unrealistic cash flow, error in claims, poor financial problems and disagreement on valuation of work. The impact of delayed payment is delay in project progress which affects the schedule of work and leads to cost overrun and extension of time. In conclusion clients should seek co- investors for support on financial commitment. It was recommended that the stakeholders should work as a team in the execution of project to avoid bottlenecks usually encountered in agreeing contractors’ payment.en_US
dc.identifier.citationAkinsiku, O. E, & Ajayi, M. O. (2016). Effects of delayed payment of contractors on construction project delivery in Nigeria. Proceedings of the construction building and real estate research conference of the Royal Institution of chartered surveyors, held at Toronto, Canada 20 – 22 September, 2016, 1 – 11.en_US
dc.identifier.urihttps://ir.unilag.edu.ng/handle/123456789/7381
dc.language.isoenen_US
dc.publisherThe Construction, Building and Real Estate Research Conference of the Royal Institution of Chartered Surveyorsen_US
dc.subjectConstructionen_US
dc.subjectContractorsen_US
dc.subjectProject deliveryen_US
dc.subjectValuationen_US
dc.subjectPaymenten_US
dc.subjectResearch Subject Categories::FORESTRY, AGRICULTURAL SCIENCES and LANDSCAPE PLANNINGen_US
dc.titleEffects of delayed payment of contractors on construction project delivery in Nigeriaen_US
dc.typePresentationen_US
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