Levelset
JUNE 6, 2022
It can significantly impact the financial standing of contractors, especially when working on projects with a small profit margin. ABC Contractor is billing a project owner for $100,000 with 10% retention. When ABC completes the project, they will invoice the customer for $10,000 in retention. According to Steven J.
Levelset
APRIL 28, 2022
While general contractors commonly use performance bonds to reduce the risk of default, a bond ultimately protects the property owner, not the GC. Some GCs pass the cost of the loss reserve onto the project owner and claim that amount as additional profit on the project. What is subcontractor default insurance?
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Autodesk Construction Cloud
SEPTEMBER 14, 2022
Associated Builders and Contractors (ABC) estimates that around 1.2 Mallorie and her co-founder, Lauren Lake, established the company in 2014 to help construction companies maximize profits and reduce risk by taking a people-first approach. Mallorie Brodie , the CEO Bridgit , is no stranger to these challenges and solutions.
Autodesk Construction Cloud
JULY 7, 2022
The Associated Builders and Contractors (ABC) estimates the construction sector would need to bring in nearly 650,000 additional workers in 2022 to meet labor demands. As Anirban Basu, ABC Chief Economist said in a statement, “The workforce shortage is the most acute challenge facing the construction industry despite sluggish spending growth.
NH Construction Law
JANUARY 23, 2021
In an effort to avoid the costs and risks associated with the employment relation, contractors and construction managers often prefer to hire workers as “independent contractors” rather than employees. And occasionally, they misclassify workers as independent contractors when legally they are not – with nasty consequences.
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