What is the result of a contractor failing to meet project deadlines?

When a contractor fails to meet project deadlines, one of the primary outcomes is the potential loss of payment. Many construction contracts include specific milestones or completion dates tied to payment schedules. If a contractor does not adhere to these timelines, it can lead to delays in payment or even a complete withholding of funds until the project meets the agreed-upon deadlines. This financial impact serves as a significant motivator for contractors to stay on schedule and fulfill their commitments.

In the context of the other choices, it is important to recognize that project extensions are typically not guaranteed and often depend on the terms set out in the contract. Moreover, failing to meet deadlines generally does not absolve a contractor from financial consequences; instead, it often leads to increased costs and liability. Access to additional funds is also unlikely as failure to meet deadlines usually signifies mismanagement or other issues rather than providing a contractor with more resources. Thus, the ramifications of not meeting deadlines are serious and can directly affect the contractor's payment and overall financial health on the project.