ISG administration, October support update - Revision history

Editor at 08:25, 8 October 2024

2024-10-08T08:25:20Z

← Older revision		Revision as of 08:25, 8 October 2024
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	On 8 October, 2024 the [https://www.constructionenquirer.com/2024/10/08/isg-administrator-tells-subbies-no-funds-to-pay-debts/ Construction Enquirer reported] that 'In letters to trade creditors, administrator EY confirmed that no further work would be carried out during the administration on existing contracts, including projects for Construction, Fit Out and Engineering services businesses. It said: “The companies are being wound down under our supervision while we conduct an investigation of their financial affairs....At present, it is not anticipated that there will be any funds available for a distribution to creditors.”		On 8 October, 2024 the [https://www.constructionenquirer.com/2024/10/08/isg-administrator-tells-subbies-no-funds-to-pay-debts/ Construction Enquirer reported] that 'In letters to trade creditors, administrator EY confirmed that no further work would be carried out during the administration on existing contracts, including projects for Construction, Fit Out and Engineering services businesses. It said: “The companies are being wound down under our supervision while we conduct an investigation of their financial affairs....At present, it is not anticipated that there will be any funds available for a distribution to creditors.”
		+
		+	= Build UK FAQs =

	[[File:ISG_Build_uk_QA_1000.jpg\|link=https://builduk.org/wp-content/uploads/2024/10/ISG-Administration-FAQs-30.09.2024.pdf]]		[[File:ISG_Build_uk_QA_1000.jpg\|link=https://builduk.org/wp-content/uploads/2024/10/ISG-Administration-FAQs-30.09.2024.pdf]]

Editor at 08:24, 8 October 2024

2024-10-08T08:24:20Z

← Older revision		Revision as of 08:24, 8 October 2024
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−	[[File:~~ISG overlay cas~~-worker-ipad-~~construction 1000~~.jpg]]	+	[[File:ISG_overlay_cas-worker-ipad-construction_1000.jpg\|link=File:ISG_overlay_cas-worker-ipad-construction_1000.jpg]]

	= Update from October, 2024 =		= Update from October, 2024 =
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	On 8 October, 2024 the [https://www.constructionenquirer.com/2024/10/08/isg-administrator-tells-subbies-no-funds-to-pay-debts/ Construction Enquirer reported] that 'In letters to trade creditors, administrator EY confirmed that no further work would be carried out during the administration on existing contracts, including projects for Construction, Fit Out and Engineering services businesses. It said: “The companies are being wound down under our supervision while we conduct an investigation of their financial affairs....At present, it is not anticipated that there will be any funds available for a distribution to creditors.”		On 8 October, 2024 the [https://www.constructionenquirer.com/2024/10/08/isg-administrator-tells-subbies-no-funds-to-pay-debts/ Construction Enquirer reported] that 'In letters to trade creditors, administrator EY confirmed that no further work would be carried out during the administration on existing contracts, including projects for Construction, Fit Out and Engineering services businesses. It said: “The companies are being wound down under our supervision while we conduct an investigation of their financial affairs....At present, it is not anticipated that there will be any funds available for a distribution to creditors.”

−	[[File:~~ISG Build uk QA 1000~~.jpg]]	+	[[File:ISG_Build_uk_QA_1000.jpg\|link=https://builduk.org/wp-content/uploads/2024/10/ISG-Administration-FAQs-30.09.2024.pdf]]

	On 2 October [https://www.constructionleadershipcouncil.co.uk/news/clc-endorses-build-uk-document-to-support-organisations-in-the-isg-supply-chain/ CLC announced its endorsement of the Build UK Document to Support Organisations in the ISG Supply Chain]. Its said "Following the collapse of ISG last month, Build UK, with the support of Wedlake Bell LLP, has published a series of Frequently Asked Questions (FAQs) to support organisations in the supply chain that may be affected. The guidance, which is endorsed by the CLC, includes the details of ISG’s administration, what to do if you are owed payment or need access to site, and potential next steps including novation of your contract." the document "[https://builduk.org/wp-content/uploads/2024/10/ISG-Administration-FAQs-30.09.2024.pdf ISG Administration Frequently Asked Questions (FAQs)" can be downloaded here and contains answers to a number of questions]:		On 2 October [https://www.constructionleadershipcouncil.co.uk/news/clc-endorses-build-uk-document-to-support-organisations-in-the-isg-supply-chain/ CLC announced its endorsement of the Build UK Document to Support Organisations in the ISG Supply Chain]. Its said "Following the collapse of ISG last month, Build UK, with the support of Wedlake Bell LLP, has published a series of Frequently Asked Questions (FAQs) to support organisations in the supply chain that may be affected. The guidance, which is endorsed by the CLC, includes the details of ISG’s administration, what to do if you are owed payment or need access to site, and potential next steps including novation of your contract." the document "[https://builduk.org/wp-content/uploads/2024/10/ISG-Administration-FAQs-30.09.2024.pdf ISG Administration Frequently Asked Questions (FAQs)" can be downloaded here and contains answers to a number of questions]:

Editor: moved Support for ISG contractors, companies and employees to ISG administration, October support update

2024-10-08T08:22:30Z

moved Support for ISG contractors, companies and employees to ISG administration, October support update

← Older revision

Revision as of 08:22, 8 October 2024

Editor at 08:21, 8 October 2024

2024-10-08T08:21:31Z

← Older revision		Revision as of 08:21, 8 October 2024
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		+	[[File:ISG overlay cas-worker-ipad-construction 1000.jpg]]
		+
	= Update from October, 2024 =		= Update from October, 2024 =

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	On 8 October, 2024 the [https://www.constructionenquirer.com/2024/10/08/isg-administrator-tells-subbies-no-funds-to-pay-debts/ Construction Enquirer reported] that 'In letters to trade creditors, administrator EY confirmed that no further work would be carried out during the administration on existing contracts, including projects for Construction, Fit Out and Engineering services businesses. It said: “The companies are being wound down under our supervision while we conduct an investigation of their financial affairs....At present, it is not anticipated that there will be any funds available for a distribution to creditors.”		On 8 October, 2024 the [https://www.constructionenquirer.com/2024/10/08/isg-administrator-tells-subbies-no-funds-to-pay-debts/ Construction Enquirer reported] that 'In letters to trade creditors, administrator EY confirmed that no further work would be carried out during the administration on existing contracts, including projects for Construction, Fit Out and Engineering services businesses. It said: “The companies are being wound down under our supervision while we conduct an investigation of their financial affairs....At present, it is not anticipated that there will be any funds available for a distribution to creditors.”
		+
		+	[[File:ISG Build uk QA 1000.jpg]]

	On 2 October [https://www.constructionleadershipcouncil.co.uk/news/clc-endorses-build-uk-document-to-support-organisations-in-the-isg-supply-chain/ CLC announced its endorsement of the Build UK Document to Support Organisations in the ISG Supply Chain]. Its said "Following the collapse of ISG last month, Build UK, with the support of Wedlake Bell LLP, has published a series of Frequently Asked Questions (FAQs) to support organisations in the supply chain that may be affected. The guidance, which is endorsed by the CLC, includes the details of ISG’s administration, what to do if you are owed payment or need access to site, and potential next steps including novation of your contract." the document "[https://builduk.org/wp-content/uploads/2024/10/ISG-Administration-FAQs-30.09.2024.pdf ISG Administration Frequently Asked Questions (FAQs)" can be downloaded here and contains answers to a number of questions]:		On 2 October [https://www.constructionleadershipcouncil.co.uk/news/clc-endorses-build-uk-document-to-support-organisations-in-the-isg-supply-chain/ CLC announced its endorsement of the Build UK Document to Support Organisations in the ISG Supply Chain]. Its said "Following the collapse of ISG last month, Build UK, with the support of Wedlake Bell LLP, has published a series of Frequently Asked Questions (FAQs) to support organisations in the supply chain that may be affected. The guidance, which is endorsed by the CLC, includes the details of ISG’s administration, what to do if you are owed payment or need access to site, and potential next steps including novation of your contract." the document "[https://builduk.org/wp-content/uploads/2024/10/ISG-Administration-FAQs-30.09.2024.pdf ISG Administration Frequently Asked Questions (FAQs)" can be downloaded here and contains answers to a number of questions]:

Editor at 07:59, 8 October 2024

2024-10-08T07:59:53Z

← Older revision		Revision as of 07:59, 8 October 2024
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−	= ~~Construction giant falls~~ =	+	= Update from October, 2024 =

−	~~Another giant~~ of ~~construction falls to~~ the ~~tsunami~~ of ~~insolvencies~~. ~~Thanks to CPA data below~~, ~~provided~~ and ~~reported on by ECA, 4,373 construction firms went out of business in the UK in the year to July 2024, which is 4.0% higher than a year earlier~~.	+	EY Administrators responsible for the ISG Administrations announced a list of the 'companies' affected as described here, it also has made available a number of [https://www.ey.com/en_uk/administrations/isg-administrations Frequently Asked Questions available for customers, suppliers and contractors and employees available.]

−	~~[[File:ECA_insolvency_graph_CPA_data_1000.jpg~~\|~~link=File:ECA_insolvency_graph_CPA_data_1000.jpg]]~~	+	{\|
		+	\| ISG Central Services Limited
		+	\| ISG Retail Limited
		+	\|-
		+	\| ISG Interior Services Group UK Limited
		+	\| ISG Construction Limited
		+	\|-
		+	\| ISG Fit Out Limited
		+	\| ISG Jackson Limited
		+	\|-
		+	\| ISG Engineering Services Limited
		+	\|

−	~~The Electrical Contractors Associated reported in their article '~~ISG ~~administration: are you affected?", dated September 20, 2024 that:~~	+	\|-
		+	\| ISG UK Retail Limited
		+	\| (all in Administration) (together “the Companies”)
		+	\|}

−	* ISG Construction ~~Limited~~,	+	On 8 October, 2024 the [https://www.constructionenquirer.com/2024/10/08/isg-administrator-tells-subbies-no-funds-to-pay-debts/ Construction Enquirer reported] that 'In letters to trade creditors, administrator EY confirmed that no further work would be carried out during the administration on existing contracts, including projects for Construction, Fit Out and Engineering services businesses. It said: “The companies are being wound down under our supervision while we conduct an investigation of their financial affairs....At present, it is not anticipated that there will be any funds available for a distribution to creditors.”
−	* ISG Engineering ~~Services Limited~~,	+
−	* ISG ~~Retail Limited~~,	+	On 2 October [https://www.constructionleadershipcouncil.co.uk/news/clc-endorses-build-uk-document-to-support-organisations-in-the-isg-supply-chain/ CLC announced its endorsement of the Build UK Document to Support Organisations in the ISG Supply Chain]. Its said "Following the collapse of ISG last month, Build UK, with the support of Wedlake Bell LLP, has published a series of Frequently Asked Questions (FAQs) to support organisations in the supply chain that may be affected. The guidance, which is endorsed by the CLC, includes the details of ISG’s administration, what to do if you are owed payment or need access to site, and potential next steps including novation of your contract." the document "[https://builduk.org/wp-content/uploads/2024/10/ISG-Administration-FAQs-30.09.2024.pdf ISG Administration Frequently Asked Questions (FAQs)" can be downloaded here and contains answers to a number of questions]:
−	* ~~ISG Jackson Limited~~ and	+
−	* ~~ISG Central Services Limited~~	+	* What has happened?
		+	* What is an administration?
		+	* Am I affected?
		+	* Will I get paid?
		+	* Might I be paid by the ultimate employer or funder? ....
		+	* What should I do now?
		+	* What do I do if I attend site and am not allowed access?.
		+	* I have materials, equipment or tools on site; what do I do?...
		+	* How do I register my claim?
		+	* What is a novation?
		+	* What do I do if my business is now in financial difficulties? ...
		+
		+	= The fall of a construction giant =
		+
		+	Another giant of construction falls to the tsunami of insolvencies. Thanks to CPA data below, provided and reported on by ECA, 4,373 construction firms went out of business in the UK in the year to July 2024, which is 4.0% higher than a year earlier.
		+
		+	[[File:ECA_insolvency_graph_CPA_data_1000.jpg\|link=File:ECA_insolvency_graph_CPA_data_1000.jpg]]

−	had all filed for administration and advised that If another part of ISG is not in administration, ECA Members may wish to take evasive action to kerb their exposure. The parent company, ISG Limited, has, so far, not applied to the court for insolvency ~~of any kind~~.	+	The Electrical Contractors Associated reported in their article 'ISG administration: are you affected?", dated September 20, 2024 that ISG Construction Limited, ISG Engineering Services Limited, ISG Retail Limited, ISG Jackson Limited and ISG Central Services Limited had all filed for administration and advised that If another part of ISG is not in administration, ECA Members may wish to take evasive action to kerb their exposure. The parent company, ISG Limited, has, so far, not applied to the court for insolvency (see updated list above and [https://www.ey.com/en_uk/administrations/isg-administrations check ISG Administrations with EY Administrators for changes]).

	The knock on effect of this insolvency is significant for a wide variety on industry workers, below are two industry responses to the news, offering guidance, but there are more. If you know of organisations offering advice, feel free to add to this article.		The knock on effect of this insolvency is significant for a wide variety on industry workers, below are two industry responses to the news, offering guidance, but there are more. If you know of organisations offering advice, feel free to add to this article.
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	Stay safe and resilient! Email ECA's Legal and Business team: candc@eca.co.uk. ECA’s Business Policy & Practice Guidance on Insolvency risk mitigation can be found here.		Stay safe and resilient! Email ECA's Legal and Business team: candc@eca.co.uk. ECA’s Business Policy & Practice Guidance on Insolvency risk mitigation can be found here.
		+
		+	Others

	-----		-----

Editor at 19:58, 29 September 2024

2024-09-29T19:58:57Z

← Older revision		Revision as of 19:58, 29 September 2024
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	Alex Ramsden, CEO and founder of BuildMyTalent, has created a community to help the 2,200 jobs likely to be lost by the collapse of ISG. The Chartered Institute of Architectural technicians (CIAT) understand that a number of architectural technologists are amongst those that have lost their jobs. The support available works as follows:		Alex Ramsden, CEO and founder of BuildMyTalent, has created a community to help the 2,200 jobs likely to be lost by the collapse of ISG. The Chartered Institute of Architectural technicians (CIAT) understand that a number of architectural technologists are amongst those that have lost their jobs. The support available works as follows:

−	For ISG employees	+	== For ISG employees ==

	* WhatsApp community for ISG employees to find their next roles, talk to talent acquisition teams and to support each other through the coming days and weeks. There are now over 300 people within the community since launching. Email Alex at alex.ramsden@buildmytalent.com for the invite link.		* WhatsApp community for ISG employees to find their next roles, talk to talent acquisition teams and to support each other through the coming days and weeks. There are now over 300 people within the community since launching. Email Alex at alex.ramsden@buildmytalent.com for the invite link.
Line 31:		Line 31:
	* Job title matrix – BuildMyTalent are working with a growing number of companies who have shared a list of job titles that they are looking to recruit. You can use the spreadsheet to see which roles are currently open for application across different companies.		* Job title matrix – BuildMyTalent are working with a growing number of companies who have shared a list of job titles that they are looking to recruit. You can use the spreadsheet to see which roles are currently open for application across different companies.

−	Companies hiring (all support is free)	+	== Companies hiring (all support is free) ==

	* Access to the WhatsApp community – there is a designated group for sharing company information, as well as a group where ISG employees are sharing their details and experience for companies to reach out to them directly.		* Access to the WhatsApp community – there is a designated group for sharing company information, as well as a group where ISG employees are sharing their details and experience for companies to reach out to them directly.
	* Matrix/CV matching - Please tell BuildMyTalent which job titles you're currently hiring for so that you can be added to the matrix. They will also need to know where to send CV's to. If you'd like to be on the list, please email alex.ramsden@buildmytalent.com		* Matrix/CV matching - Please tell BuildMyTalent which job titles you're currently hiring for so that you can be added to the matrix. They will also need to know where to send CV's to. If you'd like to be on the list, please email alex.ramsden@buildmytalent.com

−	Support organisations such as institutes, charities and other organisations	+	== Support organisations such as institutes, charities and other organisations ==

	Please offer your support via the WhatsApp organisation. Message Alex on Linkedin or email alex.ramsden@buildmytalent.com for access.		Please offer your support via the WhatsApp organisation. Message Alex on Linkedin or email alex.ramsden@buildmytalent.com for access.

Editor at 19:56, 29 September 2024

2024-09-29T19:56:07Z

← Older revision		Revision as of 19:56, 29 September 2024
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	Another giant of construction falls to the tsunami of insolvencies. Thanks to CPA data below, provided and reported on by ECA, 4,373 construction firms went out of business in the UK in the year to July 2024, which is 4.0% higher than a year earlier.		Another giant of construction falls to the tsunami of insolvencies. Thanks to CPA data below, provided and reported on by ECA, 4,373 construction firms went out of business in the UK in the year to July 2024, which is 4.0% higher than a year earlier.

−	[[File:~~ECA insolvency graph CPA data 1000~~.jpg]]	+	[[File:ECA_insolvency_graph_CPA_data_1000.jpg\|link=File:ECA_insolvency_graph_CPA_data_1000.jpg]]

	The Electrical Contractors Associated reported in their article 'ISG administration: are you affected?", dated September 20, 2024 that:		The Electrical Contractors Associated reported in their article 'ISG administration: are you affected?", dated September 20, 2024 that:
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	For ATs within ISG, you can also contact Joe Oxtoby at Hays for further information, support and advice: joe.oxtoby@hays.com		For ATs within ISG, you can also contact Joe Oxtoby at Hays for further information, support and advice: joe.oxtoby@hays.com
		+
		+	-----
		+	This section of the article appears on the CIAT news and blogsite as "[https://architecturaltechnology.com/resource/platform-of-support-for-isg-employees-and-companies.html Platform of support for ISG employees and companies]", dated September 26, 2024.

	= Electrical contractors =		= Electrical contractors =
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	There is value to the end-client in completing with the original sub-contractors in order to maintain an uninterrupted duty of care, warranty and insurance, even if the client has to pay a premium for the privilege and there is commercial value in keeping resources engaged provided you are able to get paid.		There is value to the end-client in completing with the original sub-contractors in order to maintain an uninterrupted duty of care, warranty and insurance, even if the client has to pay a premium for the privilege and there is commercial value in keeping resources engaged provided you are able to get paid.

−	Stay safe and resilient!	+	Stay safe and resilient! Email ECA's Legal and Business team: candc@eca.co.uk. ECA’s Business Policy & Practice Guidance on Insolvency risk mitigation can be found here.
		+
		+	-----
		+	This section of the article appears on the ECA news and blogsite as "[https://www.eca.co.uk/news/2024/sep/isg-administration-are-you-affected ISG administration: are you affected?]", dated September 20, 2024.

−	~~Email ECA's Legal and Business team: candc@eca.co.uk~~	+	= Related articles on Designing Buildings =

−	~~ECA’s~~ Business ~~Policy & Practice Guidance on~~ Insolvency ~~risk mitigation can be found here~~.	+	* Budget.
		+	* Business model.
		+	* Business process outsourcing (BPO).
		+	* Business interruption cover under COVID-19.
		+	* Campaign for cash retentions reform.
		+	* Carillion.
		+	* Cash flow statement.
		+	* Contract claims.
		+	* Capital costs for construction projects.
		+	* Cash flow in construction.
		+	* Commercial manager.
		+	* Compliance.
		+	* Construction manager.
		+	* Construction organisation design.
		+	* Construction organisations and strategy.
		+	* Construction recruitment agency.
		+	* Corporate finance.
		+	* Design management.
		+	* Escrow.
		+	* Fair payment practices.
		+	* Human resource management in construction.
		+	* Industry work placement.
		+	* Insolvency Act 1986 - Use of Prohibited Names.
		+	* Insolvency in the construction industry.
		+	* Insourcing.
		+	* Joint venture.
		+	* Liens.
		+	* New regulations on late payment.
		+	* Office manual.
		+	* The Late Payment of Commercial Debts Regulations 2013.
		+	* Practice management.
		+	* Profitability.
		+	* Prompt payment.
		+	* Project manager.
		+	* Remedies for late payment.
		+	* Resolution planning.
		+	* Scheme for construction contracts.
		+	* Site administrator.
		+	* Solvency.
		+	* Subcontractor.
		+	* Succession planning.
		+	* Types of construction organisation.
		+	* Vested outsourcing.

	[[Category:Articles_needing_more_work]]		[[Category:Articles_needing_more_work]]

Editor: Created page with "= Construction giant falls = Another giant of construction falls to the tsunami of insolvencies. Thanks to CPA data below, provided and reported on by ECA, 4,373 construction fi..."

2024-09-29T19:53:40Z

Created page with "= Construction giant falls = Another giant of construction falls to the tsunami of insolvencies. Thanks to CPA data below, provided and reported on by ECA, 4,373 construction fi..."

New page

= Construction giant falls =

Another giant of construction falls to the tsunami of insolvencies. Thanks to CPA data below, provided and reported on by ECA, 4,373 construction firms went out of business in the UK in the year to July 2024, which is 4.0% higher than a year earlier.

[[File:ECA insolvency graph CPA data 1000.jpg]]

The Electrical Contractors Associated reported in their article 'ISG administration: are you affected?", dated September 20, 2024 that:

* ISG Construction Limited,
* ISG Engineering Services Limited,
* ISG Retail Limited,
* ISG Jackson Limited and
* ISG Central Services Limited

had all filed for administration and advised that If another part of ISG is not in administration, ECA Members may wish to take evasive action to kerb their exposure. The parent company, ISG Limited, has, so far, not applied to the court for insolvency of any kind.

The knock on effect of this insolvency is significant for a wide variety on industry workers, below are two industry responses to the news, offering guidance, but there are more. If you know of organisations offering advice, feel free to add to this article.

= Architectural technology =

Alex Ramsden, CEO and founder of BuildMyTalent, has created a community to help the 2,200 jobs likely to be lost by the collapse of ISG. The Chartered Institute of Architectural technicians (CIAT) understand that a number of architectural technologists are amongst those that have lost their jobs. The support available works as follows:

For ISG employees

* WhatsApp community for ISG employees to find their next roles, talk to talent acquisition teams and to support each other through the coming days and weeks. There are now over 300 people within the community since launching. Email Alex at alex.ramsden@buildmytalent.com for the invite link.
* CV matching service. 4 stages to this:
** Step 1 - Send your CV to alex.ramsden@buildmytalent.com
** Step 2 - BuildMyTalent will come back with a list of companies they'd like to forward it onto.
** Step 3 - You give your permission to share the CV to these companies.
** Step 4 - BuildMyTalent will follow up with you in a week's time with a further call/discussion to see if their help is still required.
* Job title matrix – BuildMyTalent are working with a growing number of companies who have shared a list of job titles that they are looking to recruit. You can use the spreadsheet to see which roles are currently open for application across different companies.

Companies hiring (all support is free)

* Access to the WhatsApp community – there is a designated group for sharing company information, as well as a group where ISG employees are sharing their details and experience for companies to reach out to them directly.
* Matrix/CV matching - Please tell BuildMyTalent which job titles you're currently hiring for so that you can be added to the matrix. They will also need to know where to send CV's to. If you'd like to be on the list, please email alex.ramsden@buildmytalent.com

Support organisations such as institutes, charities and other organisations

Please offer your support via the WhatsApp organisation. Message Alex on Linkedin or email alex.ramsden@buildmytalent.com for access.

For ATs within ISG, you can also contact Joe Oxtoby at Hays for further information, support and advice: joe.oxtoby@hays.com

= Electrical contractors =

ECA Director of Legal and Business Rob Driscoll shares advice to ECA Members who may be exposed to risk following this news.

ECA understands has gave advice as follows.

== Immediate action should include: ==

* If you are able to access site, use photographic, video and written records of your work in progress.
* Ensure records are up to date.
* If you have access to sites, recover plant, tools and unfixed materials which you have title to and have not yet been paid for.
* Maintain contact with ISG representatives.
* Establish contact and claim for unpaid works with the appointed administrator.

Records will be invaluable in establishing the value of your “final account” and can be used for any negotiations with any main contractor who is brought in to complete the contract.

== Administration is not liquidation ==

The situation is not yet terminal. Existing contracts may have termination on insolvency provisions or may simply give the right for you to choose to terminate on ISG’s insolvency following a prescriptive procedure.

You do not yet know if the end-client will terminate or allow these entities to continue to deliver under the administration process. In which case, the administrators may attempt to offer sub-contractors an opportunity to complete.

== Consider if you have the right to terminate ==

Consider any obligations you may have under novation clauses or collateral warranty step-in clauses to continue working for new main contractors and refresh yourself on the issue of if those obligations are subject to you getting paid what you are owed.

You should prepare a schedule that shows a record of all outstanding payments including retentions and when these payments were due, if they are unpaid.

For materials that are required for the contract but have not been delivered to the site then make careful note of these and further advice will be provided in due course as matters unfold. You should avoid at all costs any damage to your completed works.

If offers come in to complete the works under new contracts, check they are not more onerous than your existing contracts and negotiate to recover some of the losses within the price to complete.

* Do due diligence on new parties and seek to improve your cash-flow exposure
* Shorter; application, due date, final date, payment cycles.
* Advanced payment for materials.
* Performance bond from any party who is not financially robust enough and seeks to step into ISG’s shoes and engage you.
* No retentions.

There is value to the end-client in completing with the original sub-contractors in order to maintain an uninterrupted duty of care, warranty and insurance, even if the client has to pay a premium for the privilege and there is commercial value in keeping resources engaged provided you are able to get paid.

Stay safe and resilient!

Email ECA's Legal and Business team: candc@eca.co.uk

ECA’s Business Policy & Practice Guidance on Insolvency risk mitigation can be found here.

[[Category:Articles_needing_more_work]]