Accounting Lien Management Risk 
Levelset
JUNE 6, 2022
In an attempt to hold contractors accountable, many projects use retention holdbacks, also known as retainage. These holdbacks need to be accounted for by every party to a project: owner, general contractor, and subcontractor. Retention receivable and payable is different from accounts receivable and payable. View profile.
Construction Marketing
SEPTEMBER 9, 2021
Limited owner insights – the stakeholders in most construction projects are surprisingly left in the dark on the progress of many projects, waiting around for periodic updates from construction managers to keep them apprised of the job status. A lien waiver is a fancy word used in the construction industry for receipt of payment.
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Autodesk Construction Cloud
SEPTEMBER 13, 2022
So how can companies optimize for their bottom line without putting their businesses at risk? . Firms that want to stay both competitive and resilient in an evolving economic landscape need a strong risk management strategy – yet this is easier said than done. Risk management is a multifaceted challenge.
Levelset
MARCH 21, 2022
Meanwhile, you’re incurring expenses that drain your bank account, like purchasing materials and paying employees. To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet. Protect your lien rights.
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. For many construction businesses, the retainage payment accounts for their entire profit margin on the project.
Construction Lawyer
MARCH 13, 2012
In other words, you use the stuff we post here at your own risk. Only a knowledgeable attorney can apply the information here to your particular matter, taking into account the laws of your jurisdiction. illinois supplier denied mechanics lien. Hillside filed a counterclaim to foreclose its mechanics lien. March 8, 2012).
Levelset
AUGUST 16, 2022
However, larger projects come with greater risks and additional challenges. Large, multi-year projects are also more likely to face risks from potential economic changes, supply chain issues, and other unforeseen pressures that can threaten them. Next, subtract the sum of your accounts payable, short-term debts owed, and over-billings.
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