A fair days pay for a Fair Days Work

We all like to watch programs like "Rogue Trader" or "Cowboy Builders", on television, I think it's because we have a morbid fascination with the problems and dangers of others.-As an independent professional trader in the construction industry, I am appalled for the way customers are treated with these so called "traders", I use the word because traders have yet to see a single program to identify a woman who behaves like this! - But that's another topic for discussion at another time! -

It is only fair that customers can get absolutely fleeced by unscrupulous operators, and unfortunately these programs because they make such good telly, a few people might understandably think that this is common in the construction industry - it is not! I worked with merchants and artisans, and many can not remember one of them fall into this category and have been in 18 years.

Unfortunately, there are always some who ruin it for everyone else and, of course, you get to hear their antics much more easily, after all, there is no entertainment value in seeing Bob the Builder customers to finish their work on time , budget and properly finished .... but which is probably the fact in most cases. (The show has come close to this Grand Designs with Kevin Macloud!).

Having worked in industry for a while ', I want to comment on the downside and mention dishonest customers. I can not think of a single colleague who has not suffered financial losses because of cheating a customer at one time or another. I myself have had the old chestnut of a check which has been lost in the post along with other delaying tactics to get out of paying a bill that is fully justified.

It seems to me that there is no protection for existing customers or traders - but I think I may have a solution - I came across this system until recently, when building my web site - Escrowing funds!

So, how does it work? It 's quite simple really; Builder A has a quote for a client B for the job C. When the customer accepts the estimate B, we deleted the funds deposited for the full amount in a separate escrow company - lets call them Escrow Company D-Now!, This One point Builder knows that funds are available and are on deposit at the escrow company, before starting work. Client B while paying in full, know that your funds are protected in the company D. Escrow With all three groups work together, the funds are released by the Builder to escrow company, only if authorized by the client B and this is usually done in stages as certain phases of construction are completed to the specifications given.

The beauty of this system is that everyone is protected. The manufacturer knows that the customer has the money before you start, the client knows that his money is on deposit in a safe and in control of how and why its paid third is involved, there is room for the arbitration on any disagreements prior to any disbursements!

In order to fully ensure the funds, the escrow company could not be signed by the government or even a govt department? This would be a great step forward in government regulation of this old problem in the construction industry.

I will send this out to Gordon Brown and see what you think! ......