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Payment Applications 101: A Guide to Pay Apps in Construction

Fieldwire

In most industries, requesting payment is as simple as sending a bill or invoice for work you’ve completed. Due to the size and complexity of most construction projects, contractors often need to supply additional proof of their work to prove to the owner or general contractor (GC) that they deserve to get paid.

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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. The basics of retainage Retainage, also called retention, is an amount withheld from the contractor until a later date.

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Mayer Building Company for Subcontractors: Payment Guide & Resources

Levelset

For subcontractors looking to work with Mayer Building Company (MBC), it’s helpful to research the company’s history, past projects, and payment procedures. Mayer Building Company is a New Orleans-based general contractor that specializes in commercial construction and historic renovations. Mayer Building Company overview.

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Feeling Rejected? MA Court Construes for the First Time the Provisions of the Prompt Pay Act

Best Practices Construction Law

A Massachusetts court recently held that an owner’s rejection of the contractor’s payment applications was not properly certified and, thus, violated the state’s Prompt Pay Act. IRIV Partners, LLC , (App. The owner alleged the contractor performed defective work and failed to perform warranty work when required.

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Appeals Court Construes Massachusetts Prompt Payment Act for First Time, Requiring Strict Compliance

Constructlaw

For the first time, the Appeals Court of Massachusetts has construed the Massachusetts Prompt Payment Act (the statute), requiring strict compliance on the part of owners and contractors who wish to withhold payments from contractors or subcontractors. IRIV Partners, LLC , 101 Mass. 133 (2022). 149, § 29E (West).

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Autodesk Build Brings Multi-Currency to Cost Management 

Autodesk Construction Cloud

With the release of Multi-Currency in Autodesk Build and BIM 360 Cost Management, teams can now easily manage supplier contracts, change orders, payment applications, and expenses in different currencies. . invoices, pay apps, etc.) Everything is converted back to the project’s base currency for accurate reporting.

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10 Best Insurance Companies for Construction Businesses

Levelset

Whether you’re just starting your business or looking to change insurance carriers, it pays to go with a company that has experience and knowledge in providing insurance for the construction industry. The Hartford provides insurance for a variety of contractor types, including plumbers, electricians, painters, and carpenters.