Construction Law Monitor

MAY 3, 2013

True: deadlines dictate when it comes to securing your lien rights. In the construction world, there is no doubt that the deadlines for securing your lien rights are rigid and unforgiving. If you have not filed your lien by the applicable date, you have relinquished that right permanently. The “Back Door Lien”.

Lien 64

Lien Contract Accounting Louisiana 64

Fieldwire

AUGUST 14, 2023

Construction is one of the hardest industries to manage cash flow in, with contractors often facing large up-front costs and frequent, long delays between expenses and payment. It’s fairly common, especially on commercial and public construction projects, and typically ranges from 5 - 10% of the total contract price.

Contractors 98

Contractors Cash Flow Lien Negotiation 98

NH Construction Law

OCTOBER 7, 2018

Suppose the contractor applied for and got a mechanic’s lien attachment on an ex parte basis in the full amount of his claims (unpaid balance, interest and anticipated attorneys’ fees). If the owner then files an objection to the lien and asks for a hearing, what will be grounds for the judge to reduce or eliminate the lien?

Lien 40

Lien Claims Contract New Hampshire 40

Contractor Bookkeeping

OCTOBER 16, 2020

Proactive versus reactive are the two methods of getting something done. I find everyone works in a combination of both, I included. Proactive is scheduling and doing everything ahead of time. Nothing is ever waiting until the last minute. Reactive is more emergency driven and are things that need to be done now.

Cash Flow 100

Cash Flow Lien Contractors Schedule 100

NH Construction Law

OCTOBER 22, 2023

It happens this way: A contractor or subcontractor borrows money from a lender, and as security for the loan it gives the lender an assignment of or lien on its receivables and contract rights. Suffolk Construction Co. , Any subsequent square-up was between lender and borrower, and not the account debtor’s concern.

Security 40

Security Contract Accounting Construction 40

Levelset

MARCH 21, 2022

Meanwhile, you’re incurring expenses that drain your bank account, like purchasing materials and paying employees. Poor cash flow management is the number one reason why construction businesses fail. Protect your lien rights. The right to file a mechanics lien is the most powerful tool in your toolbelt. Learn more.

Cash Flow 98

Cash Flow Insurance Lien Management 98

Chianelli Estimating

JANUARY 30, 2020

Construction estimating is an important task that should not be overlooked or done in a careless manner. Failing to prepare a reliable construction estimate could make the difference between a successful project and a complete fiasco aided by a calamity of errors. Preparing an estimate does not come without a cost.

Estimating 78

Estimating Construction Bidding Bankruptcy 78

Levelset

AUGUST 25, 2022

Retainage : It’s been a hot button topic in the construction industry for years. Given the slim profit margins on construction projects, retainage practices can be incredibly frustrating for contractors. Texas lien law: ‘Retainage’ or ‘reserved funds’? Lien for unpaid retainage.

Texas 52

Texas Lien Claims Contract 52

Construction Lawyer

MARCH 13, 2012

Werner Sabo is a partner at the construction law firm of Sabo & Zahn in Chicago. He is a member various professional organizations, has been an officer and director of the Chicago Chapter AIA, President of the Chicago Chapter, Construction Specifications Institute, and writes a regular construction law column for The Construction Specifier.

Lien 40

Lien Illinois AIA Chicago 40

Lets Build

MAY 11, 2020

The construction industry, along with all other sectors in the world, will never be the same because of the COVID-19 pandemic. Here are some of the ways the novel coronavirus crisis will reshape construction. Before the COVID-19 pandemic, many construction business owners were reluctant to adopt a flexible work arrangement.

Industrial 178

Industrial Construction Conference Compensation 178

Autodesk Construction Cloud

SEPTEMBER 13, 2022

But in construction, with razor-thin margins, the stakes are significantly higher and there is little room for the unexpected. Our solutions help mitigate some of the largest project risks from conceptual design through construction operations. As with every industry, everything ultimately boils down to the bottom line.

Autodesk 105

Autodesk Risk Industrial Construction 105

Levelset

APRIL 15, 2022

They may not have the funds available to pay the contractor out of pocket, so they’re counting on that insurance check to cover the construction costs. Klark Brown , Co-founder of The Alliance of Independent Restorers, concedes this might be one of the very situations in which an AOB construction agreement might help a contractor. “An

Insurance 52

Insurance Contractors Lien Claims 52

Levelset

APRIL 5, 2022

Most construction businesses focus on their profit margins — making sure that revenue exceeds costs for each job. Cash flow is the number one reason why construction companies go out of business. Otherwise, you could be overdrawn on your account. Read more: The construction business guide to getting paid on time.

Cash Flow 52

Cash Flow Finance Construction Materials 52

Construction Cost Estimating

JULY 1, 2013

the renowned leader in providing various types of construction management softwares and superior practices, recently introduced Maxwell Systems ProContractorMX version 3.1. This newly launched software has the core competence to augment inter-company transactions, change management, lien management, reporting, and lots more.

Software 45

Software Software Management Lien 45

Construction Lawyer

MAY 21, 2009

Werner Sabo is a partner at the construction law firm of Sabo & Zahn in Chicago. He is a member various professional organizations, has been an officer and director of the Chicago Chapter AIA, President of the Chicago Chapter, Construction Specifications Institute, and writes a regular construction law column for The Construction Specifier.

Lien 40

Lien Illinois AIA Chicago 40

Levelset

AUGUST 16, 2022

To grow a construction business, contractors often pursue larger projects. Whenever you need to get construction bonds to perform work on a proposed project, your priority is to show the surety company how you plan to manage the particular risks and minimize the downside. Scope of work compared with past projects.

Risk 52

Risk Cash Flow Construction Banking 52

Construction Lawyer

APRIL 20, 2009

Werner Sabo is a partner at the construction law firm of Sabo & Zahn in Chicago. He is a member various professional organizations, has been an officer and director of the Chicago Chapter AIA, President of the Chicago Chapter, Construction Specifications Institute, and writes a regular construction law column for The Construction Specifier.

Lien 40

Lien Missouri Equipment Illinois 40

Levelset

APRIL 1, 2022

As a contractor or sub, you can expect to incur many costs during the course of a construction project. Materials, insurances, permits, payroll, and other typical costs are relatively simple to account for. However, there is one very expensive cost that isn’t so cut and dry: construction site theft. Schedule delays.

Site 52

Site Cash Flow Insurance Construction 52

Construction Dive

JUNE 11, 2014

By Bruce Jervis Companies selling equipment or materials to construction contractors face a unique challenge. Payment security may exist in the form of public works payment bonds or private materialman’s liens, but there is a problem. Many suppliers of equipment and materials sell to constructors on an open account.

South Dakota 52

South Dakota Lien Claims Products 52

Construction Law Monitor

JULY 20, 2011

There is likely no answer for you under the lien law – unless you filed a notice of lease agreement with the owner within the appropriate time frame. Lessors often do not learn about the dreaded notice provision until after they have been bitten by a bad customer.

Leases 44

Leases Lien Louisiana Equipment 44

Levelset

MAY 2, 2022

If your credit limit hasn’t been raised recently, it may be based on outdated financial statements — the ones you provided when you originally opened the account. Sending updated construction financial statements is a good way to let the supplier know that you want to increase your limit. Share recent financials.

Negotiation 52

Negotiation Materials Cash Flow Finance 52

Contractor Bookkeeping

JUNE 20, 2014

Let Us Help Reduce Construction Business Start Up Stress. We Are QuickBooks Experts Specializing In Construction Bookkeeping Services. You Quit Your Job - And started a construction business only to discover you need a contractor’s license and bond. Consult with a construction attorney and follow their advice.

Insurance 48

Insurance Construction Accounting Claims 48

Contractor Bookkeeping

JANUARY 2, 2015

We Are QuickBooks Experts Specializing In Construction. Did You Quit Your Job - And start your own construction company only to discover you need a contractor’s license and bond. Did You Ask A Friend Or Relative - To loan you some start-up capital and they agreed on condition you become equal partners in your construction company.

Construction 48

Construction Insurance Accounting Claims 48

Construction Law Monitor

JANUARY 17, 2012

Being a construction law attorney , I wanted my clients and readers to learn form the mistakes and shortcomings of my favorite teams. When then end of the project rolled around, there would be no substantial competion filed, no adequate demand for payment , no lien filed or any other tool used to secure payment.

Lien 66

Lien Construction Contract Defense 66

Levelset

AUGUST 4, 2022

Running an architectural firm is a bit different than other companies in the construction industry. This is in contrast to an accrual basis , which is a form of accounting that tracks revenue and expenses when they are incurred, not when they are paid or received. You can think of cash flow as your business’s wallet.

Cash Flow 52

Cash Flow Budgeting Budget Forecasting 52

Construction Lawyer

AUGUST 28, 2013

Many construction cases involve either personal injury or property damage claims. If a third party lien is known to exist, the plaintiff may protect the third-party’s right of recovery or subrogation interest by tendering to the defendant: (1) A signed release of the attorney''s lien. (2)

Illinois 40

Illinois Lien Claims Insurance 40

Construction Law Monitor

NOVEMBER 6, 2013

Everyone in the construction industry has trouble getting paid at some point. In fact, when Construction Week Online conducted a poll inquiring who in the industry had payment problems , it found that a whopping 0% – that’s right, zero percent – reported they were always “paid in full and on time.”

Lien 51

Lien Cash Flow Accounting Debt 51

Construction Lawyer

SEPTEMBER 22, 2005

Werner Sabo is a partner at the construction law firm of Sabo & Zahn in Chicago. He is a member various professional organizations, has been an officer and director of the Chicago Chapter AIA, President of the Chicago Chapter, Construction Specifications Institute, and writes a regular construction law column for The Construction Specifier.

Lien 40

Lien Illinois AIA Chicago 40

Levelset

AUGUST 17, 2022

Related: 8 KPIs every construction company should track. Design firms can ensure that they get paid by taking advantage of their right to file a mechanics lien in the states where it’s allowed. In addition, sending preliminary notices and notices of intent to lien can often speed up the payment cycle. Lucas Gray. View profile.

Profitability 52

Profitability Lien Overhead Cash Flow 52

Construction Lawyer

OCTOBER 6, 2012

Werner Sabo is a partner at the construction law firm of Sabo & Zahn in Chicago. He is a member various professional organizations, has been an officer and director of the Chicago Chapter AIA, President of the Chicago Chapter, Construction Specifications Institute, and writes a regular construction law column for The Construction Specifier.

Illinois 40

Illinois Lien Banking AIA 40

Contractor Bookkeeping

OCTOBER 4, 2013

Starting Or Re-Starting A Construction Company Is Easy. Secret #01 Decide What You Want From Your Construction Company. Action Step - 01: On a peice of paper type and print or hand write a description of what you want from your construction company and put it into a three ring binder. If You Know Exactly What To Do.

Profitability 48

Profitability Construction Accounting Cash Flow 48

Construction Lawyer

APRIL 30, 2012

Werner Sabo is a partner at the construction law firm of Sabo & Zahn in Chicago. He is a member various professional organizations, has been an officer and director of the Chicago Chapter AIA, President of the Chicago Chapter, Construction Specifications Institute, and writes a regular construction law column for The Construction Specifier.

New York 40

New York Lien Contractors Illinois 40

Contractor Bookkeeping

JUNE 18, 2013

We offer the following list of root causes for the extremely high rate of construction company failure which has accelerated beginning in 2009 and continuing as of June, 2013 when this article was written. The list below comes from working with hundreds of construction companies for over thirty years. The Contractor Paradigm.

Cash Flow 48

Cash Flow Construction Change Orders Contractors 48

Green Building Law Update

APRIL 7, 2020

HB 177 modifies dam safety laws related to the Maryland Department of the Environment’s authority to respond to an emergency situation related to a “water infrastructure asset,” defined as a reservoir, dam, or any other waterway construction. The bill also establishes liability protections for MDE and the State.

Maryland 156

Maryland Commissioning Regulation Environment 156

Green Building Law Update

APRIL 7, 2020

HB 177 modifies dam safety laws related to the Maryland Department of the Environment’s authority to respond to an emergency situation related to a “water infrastructure asset,” defined as a reservoir, dam, or any other waterway construction. The bill also establishes liability protections for MDE and the State.

Maryland 156

Maryland Commissioning Regulation Environment 156

Construction Law Monitor

APRIL 10, 2014

Most business think that when an account is overdue, then they call up a debt collection agency and the debt will be collected or its deemed bad debt. Businesses write off huge percentages of accounts receivable every year based off this flawed thinking. Delinquent Accounts Can Ruin A Business – Put An End To Them.

Debt 56

Debt Commercial Accounting Louisiana 56

Construction Cost Estimating

MAY 19, 2012

Construction Cost Estimating Blog. Sage, a trust worthy supplier of accounting and business management software , launched Sage 100 Contractor. The software provides a unique construction system amalgamating accounting, project management, estimating and service management under one roof. Construction Estimate Sheets.

Sage 45

Sage Estimating Contractors Accounting 45