Investor, show your guarantee!

At a time when a major headache for contractors is overdue payment, many have decided to push for a solution. This has led to the drawing up of the controversial 'Payment Guarantees Act' which contractors hope Poland's parliament will pass into law. The idea behind the Act is to entitle contractors to demand bank guarantees from investors proving that they have sufficient funds to pay for work and pay for it on time. Should a contractor not receive such a guarantee within a given time then the contractor may stop work without any consequences. There is no official data compiled concerning overdue payments owed to contractors, as the 'victims' are usually unwilling to go on the record and name names. The Hyatt Hotel incident, where the unpaid sub-contractors decided to go public when the contractor didn't pay them, is rare. It is no surprise, therefore, that they have come together as a body to protect their rights. A construction coalition The draft was submitted to