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Restoration: How to Manage Cash Flow While Waiting for an Insurance Check

Levelset

Even though the insurance company isn’t your customer, the property owner may be depending on that insurance check to pay for your work. 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.

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7 Things Contractors Need to Know About Retainage

Fieldwire

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. Retainage can cause a cash flow burden for contractors, especially subs at the bottom of the payment chain.

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Subcontractor Default Insurance: Pros & Cons for General Contractors

Levelset

Subcontractor default insurance is one alternative to a surety bond that works to protect a contractor from the financial burden when one of their subcontractors defaults. Related: 16 types of insurance coverage for contractors. What is subcontractor default insurance? How SubGuard insurance works.

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Construction Site Theft: Impact and Prevention

Levelset

Materials, insurances, permits, payroll, and other typical costs are relatively simple to account for. Luckily, there are insurance policies that will replace the cost of the stolen goods, such as builders risk insurance. Insurance claims. Restricted cash flow. Learn more about cash flow in construction.

Site 52
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KPIs for Architects: 3 Performance Indicators to Watch

Levelset

Let’s say the total cost of all business expenses is $150,000 (including salary, benefits, licenses, rent, insurance, etc.). Related: An architecture firm’s guide to cash flow. For example, let’s look at a two-person firm that includes a designer and an office manager. The direct labor cost is $75,000. Utilization rate.

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4 Factors Underwriters Consider When Issuing a Construction Bond

Levelset

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. It is also helpful to provide the surety with a cash flow projection for the project.

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Unique Tips To Reduce Construction Company Start Up Stress

Contractor Bookkeeping

The only thing you know is your old boss was a terrible business manager and anyone could do better than that. Insurance - Is critical to your construction company. Talk to an insurance agent that understands construction about your insurance needs. What To Do Next - You have never run a business.