Managing Receivables and Collections During Covid-19 Pandemic

by | Nov 12, 2020 | Important, News | 0 comments

In an opinion column for The Zweig Letter, Rob Hughes, senior vice president and partner, Ames & Gough acknowledges that design firm clients may be encountering financial difficulties during the COVID-19 pandemic. In this environment, he advises AEC firms to closely monitor their receivables and diligently manage any collections. In addition to sharing best practices for design firms to manage receivables and handle collections, he notes that collection efforts may prompt clients to allege the design firm’s work was deficient, leading to errors and omissions claims. He also discusses how  professional liability insurance can help design firms respond to these situations. Click here to read the column, entitled “Managing receivables and collections now,” which appeared on August 10. [Note: Article originally published August 10, 2020 in The Zweig Letter (https://www.thezweigletter.com(link is external)), the voice of reason for A/E/P and environmental consulting firms. For more information log on to https://zweiggroup.com(link is external).]