UPDATE Inside Towers received an anonymous letter in response to our recent story (“The Check is Not in the Mail”) concerning
allegations that larger companies have extended payments to tower
contractors to the breaking point, offering as much as 120-day “take it
or leave it” terms. Smaller contractors assert they’re being used as a
bank and those terms can be crippling.
The writer said he is a Verizon contractor and afraid to reveal his name for fear of losing future work. “Many
of us small contractors are about to close our doors due to the
intimidation and practices on payments from these major carriers,” he
writes. The individual alleged Verizon is asking contractors to build
this year, but not invoice them, nor whatever company hired them for the
carrier work, until 2019. He also asserted through its “Minor Materials
Program,” the carrier is now expecting contractors to source, pay for,
insure and warehouse materials that it used to provide.
A Verizon spokesman said he couldn’t
comment on the details specifically. Verizon Director of Corporate
Communications Bob Varettoni told Inside Towers in
an interview that in general, the company’s long-standing payment term
is 90 days and 30 days for construction projects. However, he said:
“Verizon is committed to doing the right thing and following sound
business practices in dealing with our suppliers.” To illustrate his
point, Varettoni offered to help the anonymous letter writer. Continue Reading
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