article thumbnail

Subcontractor Default Insurance: Pros & Cons for General Contractors

Levelset

Construction is a risky business, with among the highest rates of failure of any industry. 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.

article thumbnail

Autodesk Doubles Down in Helping the Construction Industry Reduce Risk 

Autodesk Construction Cloud

As with every industry, everything ultimately boils down to the bottom line. However, the industry is at a pressure point and unfortunately, the unexpected is one of the few things companies can expect. It’s currently difficult for insurers to quantify and price risk effectively for construction companies.

Autodesk 105
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Mayer Building Company for Subcontractors: Payment Guide & Resources

Levelset

Taking a closer look at the terms of a typical contract will provide you with important information about insurance, safety, dispute resolution, and more. Digging deeper into company processes for payment, change orders, lien waivers, and more will give you a sense of what to expect while working with them. . Before work starts.

article thumbnail

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 industry’s retainage practices throw another wrinkle into the process. Mechanics lien laws have specific deadlines that contractors must follow.

article thumbnail

How to Manage Compliance for Construction Success

Viewpoint Construction Technology

Construction management is challenging, in no small part because the industry is governed by a plethora of regulations. Regulatory compliance may seem daunting, especially for those new to the construction industry. Insurance and bonding requirements. Lien requirements. Building codes. Wage and union payroll agreements.

article thumbnail

Construction Blog Highlights

Construction Dive

This week's blog highlights from across the industry look at: Construction Insurance - Are Temporary Employees Covered?Kraus-Anderson Kraus-Anderson Website - Informative and TastefulInflated Lien BackfiresRead more.

Lien 48
article thumbnail

The 40 Best Construction Podcasts

Lets Build

There isn’t a topic that doesn’t have its own podcast and that includes the construction industry. All those noises can stand in a way of this great source of industry information and interesting stories. So without further a due, here are in our opinion, the 40 best construction industry podcasts we have handpicked for you: 1.