to take action in the event of non-payment, something he says is accomplished through the Security of Payments Act. Act early Overall, Igra says there is no magic bullet to solve insolvency and that to survive the building downturn, contractors have to go back to basics. "Make sure you review and accept and understand your contract before you start work, that you maintain the contractual requirements while you are working and that you are getting paid," Igra  says. "If you are not getting paid, act early." In closing, he noted that contractors often dally for as long as six to eight months before taking steps to collect payment. "Now, is it any wonder you've got insolvencies when people are struggling for cash flow and only at the end when they have no money and they have to sell assets do they say, 'Let's do Security of Payments and get money'?" he said. "They should be doing that after two to two and a half months."