Construction Law

MAY 2, 2024

Contractor insolvency Where there is a (living) will, there is a way Isobel Moorhouse and Jane Hughes of Trowers & Hamlins LLP explain what a ‘Living Will’ is, and ask whether the concept be adapted by employers to apply to contractor insolvencies?

Construction 52

Construction Legal Cash Flow Insurance 52

Levelset

JULY 25, 2022

Because payment for construction jobs may be weeks or months after work is already completed, companies must manage their finances carefully to maintain cash reserves for taking on new jobs. Debt capital can be vital for managing cash flow in construction. “Cash flow is critical. Debt capital.

Debt 97

Debt Cash Flow Equity Finance 97

Construction Junkie

MARCH 29, 2021

Associated General Contractors of America (AGC) recently completed a comprehensive survey of nearly 1500 contractor members to see how the ongoing pandemic is still affecting their business. Among the challenges still facing many are supply chain constraints, rising material costs, and project delays and cancellations. “The

Cash Flow 96

Cash Flow Construction AGC Fabrication 96

Contractor Bookkeeping

SEPTEMBER 25, 2013

When You Hire A 1099 Contractor They May. Having a contractor’s license is not proof enough you are a business verses an employee. If you hire a 1099 Contractor (Specialty or Trade Contractor) they just become your employee in the eyes of the tax agencies. When a being a licensed contractor is just not enough!

Contractors 49

Contractors Cash Flow Washington Compensation 49

Contractor Bookkeeping

MARCH 9, 2013

Some Contractors Hire Part Time Secretaries to do everything including construction bookkeeping and then wonder why their company debts keep growing and crushing them. Having all the job costs sorted and linked to each job in QuickBooks for Contractors. Tracking change orders in QuickBooks for Contractors for each job.

Contractors 48

Contractors Cash Flow Banking Change Orders 48

Construction Cost Estimating

MAY 17, 2018

A professional quantity surveyor is employed by the client and the contractor’s quantity surveyor. These comprise of a private practice QS who performs with an organisation in an office and instructs clients as well as develop a bill of quantities for various contractors on various projects.

Estimating 40

Estimating Cash Flow Liability Life Cycle 40

Contractor Bookkeeping

FEBRUARY 10, 2014

Contractors Should Use Reseller Permits When Buying Items For Resale. Construction Companies - In Washington State contractors selling material (as part of your service) is a taxable event. This can be copied and mailed / emailed to your major suppliers and sub-contractors. Who is the customer? When is sales tax paid?

Certification 49

Certification Washington Contractors Cash Flow 49

Contractor Bookkeeping

AUGUST 30, 2013

More Secrets From Our Experiences With Successful Contractors. The highly profitable contractors earn at least twice as much profit on each dollar of sales than average contractors and they enjoy more free time away from work. Subcontractors / Specialty Contractors. Job Material Inventory Costs. Percentage Of Completion.

Profitability 48

Profitability Contractors Accounting Cash Flow 48

Construction and Infrastructure Law

APRIL 6, 2022

4] The DOL proclaims this proposal “is necessary to ensure employers on federally funded or assisted construction projects pay fair wages to the workers who build our roads, bridges, federal buildings and energy infrastructure.” [5] At the time, the DOL cited concerns that the 30 percent rule contributed to inflation. [3]

District of Columbia 52

District of Columbia Iowa Contract Cash Flow 52

Levelset

OCTOBER 14, 2022

Plumbing contractors should include business insurance as an integral part of their financial strategy. With numerous policies available, the plumbing contractor’s insurance landscape offers many ways for you to protect your physical and financial business assets. Why plumbing contractors need insurance. Worker injury.

Insurance 52

Insurance Liability Injury Compensation 52

Contractor Bookkeeping

AUGUST 13, 2014

As Contractors Move Away From Gut-level Decisions - And begin relying on their accounting systems to provide useful financial and job costing reports the open a treasure chest busting at the seams with useful knowledge which can lead them to earning massive profits and by extension increase their personal wealth exponentially. What you say?

Contractors 48

Contractors Accounting Profitability CA 48

Contractor Bookkeeping

DECEMBER 1, 2012

Contractors Should Use Reseller Permits When Buying Items For Resale. Construction Companies - In Washington State contractors selling material (as part of your service) is a taxable event. This can be copied and mailed / emailed to your major suppliers and sub-contractors. Who is the customer? When is sales tax paid?

Certification 52

Certification Washington Contractors Accounting 52

Constructlaw

SEPTEMBER 10, 2020

For public contractors, as the current backlog of work is burned off, the scarcity of future work can significantly strain cash flow and possibly the viability of the company. Having an understanding of all insurance policies, coverages, union agreements and your obligations as an employer is vital.

Industrial 52

Industrial Union Contract Claims 52

Construction and Infrastructure Law

APRIL 6, 2022

4] The DOL proclaims this proposal “is necessary to ensure employers on federally funded or assisted construction projects pay fair wages to the workers who build our roads, bridges, federal buildings and energy infrastructure.” [5]. Returning to the Three-Step Process?

District of Columbia 52

District of Columbia Iowa Contract Cash Flow 52

Contractor Bookkeeping

JUNE 22, 2012

Contractors Stepping Out - Starting or growing a construction business can be scary and especially if you read about how many businesses, especially contractors fail in the first few years. So we tend to mentor contractors in the early phases until they get the financial foundation in place and start making money.

Profitability 48

Profitability Contractors Accounting Banking 48

Levelset

JUNE 16, 2022

A large amount of that funding is going to go directly to individual states, and with the state adopting new laws in 2021 that reconfigure the bidding process — along with adding the “design-build” option to the public construction process — there are plenty of opportunities for contractors across New Jersey. Preliminary notice requirements.

New Jersey 52

New Jersey Lien Claims Contract 52

Construction Business Owner

JULY 12, 2012

Let’s look at a few important improvements that most contractors can make. It’s obviously to your advantage if your partners have easy access to your project documents – from owners or other contractors employing you to the subs and vendors you employ. Document availability. Document Tracking. February 2009. January 2009.

Construction 136

Construction Documentation Software Software 136

Construction Business Owner

MAY 17, 2012

But what would that look like and how would contractors be able to comply with some of the very costly expenses? I think the main areas we need to concentrate on in the construction industry and ergonomics are the hand and power tools workers utilize, material handling equipment, employer and employee training. February 2009.

Construction 120

Construction Software Software Injury 120

Autodesk Construction Cloud

MARCH 7, 2022

This is especially true for commercial and residential construction sites, where plumbing contractors play an essential role between general and specialty contractors alike. The Bureau of Labor Statistics has projected employment to grow 5% between 2020 and 2030. Common Obstacles to Growth for Plumbing Contractors.

Contractors 98

Contractors Innovation Bidding Resource 98

Construction Cost Estimating

MAY 12, 2015

Get cash flows ready for payments in and out. Balfour Beatty Major Projects is planning to employ some Assistant Quantity Surveyors for a nuclear project in Cumbria. Make sure that all duties are executed in keeping the standard company HSE processes and work instructions. Live the Balfour Beatty Values.

Cash Flow 40

Cash Flow Commercial Contract BIM 40

Levelset

JULY 22, 2022

Moving from working as a roofing contractor to starting your own business may feel a bit dizzying, but it doesn’t have to be. As you get deeper into the process, you’ll get to tackle challenges with cash flow, marketing, hiring, and more. Keep the cash flowing like water down a valley.

Cash Flow 52

Cash Flow Overhead Accounting Profitability 52

Levelset

MARCH 29, 2022

Rising costs during a construction project affect not only the project’s profitability — they affect a contractor’s ability to survive. Economic growth already strains a construction company’s cash flow , and increasing costs only make it worse. Related: 5 ways contractors can tackle a construction labor shortage.

Deals 98

Deals Contractors Cash Flow Construction 98

Construction Marketing Ideas

JANUARY 22, 2015

Residential contracting consultant Michael Stone has never wavered in his belief (and advocacy) that residential contractors should employ sales representatives who work on pure commission. The contractor says: Commission salespeople do not know how to treat people. I do not hire sales people in my stores based on commission only.

Commissioning 48

Commissioning Cash Flow Modeling Income 48

DebunkTheBIM

AUGUST 3, 2015

Never mind, that BIM is supposed to save money and make things more efficient – faced by consultants, contractors and others, themselves keen to keep their cash-flows in the black and armed with ‘take it or leave it attitudes’ – BIM tends to be the first ‘project luxury’ to get dropped.

BIM 48

BIM Cash Flow Industrial Environment 48

Levelset

OCTOBER 19, 2022

However, before starting work on a building financed with a construction-to-permanent loan, both property owners and contractors need to understand the risks. Contractor risks with a construction-to-permanent loan. These risks should be a non-issue when contractors have a comprehensive risk management plan in place.

Contractors 98

Contractors Lien Construction Finance 98

Contractor Bookkeeping

OCTOBER 4, 2013

We would like to be your QuickBooks expert in construction accounting and help you with QuickBooks Setup for Construction and as much of the day to day contractors bookkeeping services as you need. Action Step - 03: Click the button below Contractors Bookkeeping Services Guide to download it. Four Types Of Contractors.

Profitability 48

Profitability Construction Accounting Cash Flow 48

Constructlaw

NOVEMBER 24, 2020

During the project, the contractor submitted dozens of claims for additional time and money – all of which the project’s owner has rejected. The contractor says it has incurred significant costs to perform the work and feels it is essentially funding the owner’s changes to the project. 6997, 330 U.N.T.S. 6997, 330 U.N.T.S.

Construction 40

Construction Contract Modeling Cash Flow 40

DebunkTheBIM

AUGUST 28, 2015

The small operators lug the costs of working in a volatile industry, expensive tools, taxes and regulations, uneven cash-flow, bad weather. Focus on and prove the existence of a genuine, working, Level 2 BIM, led and performed by the Engineers (and other AEC Consultants) and Main Contractors of the world.

BIM 48

BIM Cash Flow Industrial IDEA 48

Safety Services Company

FEBRUARY 19, 2020

The possibility of running out of cash flow, mismanaging of funds, plummeting economy, increasing cost of materials, and other similar concerns are daunting and real. These legal binding documents detail how long the project would last and how much contractors would be paid. AS AN EMPLOYER, HOW CAN YOU MANAGE ALL THE RISKS?

Risk 62

Risk Management Construction Safety 62

Safety Services Company

FEBRUARY 18, 2020

The possibility of running out of cash flow, mismanaging of funds, plummeting economy, increasing cost of materials, and other similar concerns are daunting and real. These legal binding documents detail how long the project would last and how much contractors would be paid. As an Employer, How Can You Manage all the Risks?

Risk 62

Risk Management Construction Safety 62

Contractor Bookkeeping

JULY 30, 2014

and QuickBooks Setup for Custom Home Builders Seasoned Builders understand that their needs are different and more specific than the general and specialty contractors that they hire to complete the project. When Everyone Is On The Same Page Paperwork flows like a Waltz in an old time movie, moving between the participants as needed.

Accounting 49

Accounting Housing Construction Contractors 49

Autodesk Construction Cloud

DECEMBER 12, 2021

The magazine points to “cash flow and receivables” as “backward-looking” or lagging financial indicators. Problems occur between the jobsite and front office when the general contractor, field team, designers, and project managers use varying kinds of software. Key players train up other employees to become trainers themselves.

Profitability 52

Profitability Products CFMA Construction 52

Autodesk Construction Cloud

JANUARY 6, 2022

As Electrical Contractor points out, “Traditionally, construction projects have been built in an adversarial environment. Moreover, “Progress is hampered by poor coordination between trades, incomplete drawings and specifications, and underfunding by the owner that slows cash flow and causes further conflict and delay.

Construction 52

Construction Estimating Design Budgeting 52

Autodesk Construction Cloud

FEBRUARY 1, 2022

Up to 60% of general contractors say it has a high or very high negative impact on profitability. This problem is widespread in the industry, with 68% of general contractors reporting that they experience problems “getting off the job” on at least 25% of their projects, according to an Autodesk and Dodge Data & Analytics report.

Management 97

Management Construction Risk Documentation 97

Buisness Facilities Contributed Content

APRIL 15, 2014

Must expand its labor force, make new capital investment, or prevent loss of employment. May not have closed or reduced employment elsewhere in Alabama in order to expand into an enterprise zone. The credit is 20% of the actual costs limited to the employer’s income tax liability. WORKFORCE DEVELOPMENT . The maximum grant is $1.5

Income 108

Income Finance Zoning Employment 108

Buisness Facilities Contributed Content

MARCH 21, 2014

FULL EMPLOYMENT ACT OF 2011: Businesses with 50 or fewer employees may receive a one time income tax credit equal to $1,000 per new job paying over $10 per hour. EMPLOYER EDUCATION CREDIT: A tax credit is statutorily available to employers who provide approved basic skills education programs to Alabama resident employees.

Income 75

Income Finance Zoning Equipment 75

Autodesk Construction Cloud

JANUARY 31, 2022

This increase in funding has created a greater knowledge and trust of these digital technologies leading to a greater spike in the adoption of technology across the whole construction industry, from large contractors to even small construction firms. . ” – Aravindh Rajendiran , Head of BIM at J Coffey.

Construction 97

Construction Autodesk BIM Modeling 97