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

Contractors 98

Contractors Cash Flow Lien Negotiation 98

Levelset

MAY 23, 2022

In the construction industry, starting a new project means encountering automatic, upfront costs. Getting paid in a timely manner is another challenge for specialty contractors since the average payment collection time for the construction industry is around 90 days. Protect your lien rights.

Cash Flow 59

Cash Flow Lien Accounting Construction 59

Autodesk Construction Cloud

FEBRUARY 1, 2024

Paired with razor-thin profit margins, it’s increasingly difficult for construction firms to build and maintain the financial foundation necessary to compete and thrive in the industry. Industry research supports these sentiments. Increasing financial risk. High compliance risk.

Autodesk 87

Autodesk Cash Flow Construction Risk 87

Fieldwire

AUGUST 6, 2023

Patrick is the CEO at Handle.com which builds software that helps contractors, subcontractors, and material suppliers secure their lien rights and get paid faster. This can further snowball into more delays and higher costs as they try to find and fix defects or risk contractual penalties.

Project Management 98

Project Management Management Construction Budgeting 98

Green Building Law Update

AUGUST 16, 2020

That language accomplishes next to nothing for the seller or buyer and may only serve to mitigate risk for the real estate brokers. That fixture filing is in most states a lien or encumbrance against the system. Maybe not surprisingly, this dark underbelly of the solar industry is not only a residential problem.

Housing 207

Housing Leases Residential Contract 207

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. The construction industry has one of the highest rates of business failure.

Risk 52

Risk Cash Flow Construction Banking 52

Levelset

AUGUST 15, 2022

In the construction industry, where credit is an integral part of companies’ processes , credit teams have to assess the creditworthiness of their customers individually, and it’s neither a straightforward nor simple process. Common credit issues for those in the construction industry. Take advantage of everything on the credit report.

Construction 52

Construction Lien Contractors Management 52

Construction Cost Estimating

NOVEMBER 8, 2013

Textura Corporation, the most recognized collaboration solutions provider for the construction industry, just introduced Textura-CPM, the powerful construction payment management system, for developing the payment process for effective construction management.

Management 45

Management Cash Flow Construction Lien 45

Levelset

APRIL 28, 2022

Construction is a risky business, with among the highest rates of failure of any industry. While general contractors commonly use performance bonds to reduce the risk of default, a bond ultimately protects the property owner, not the GC. What is subcontractor default insurance? SDI is offered as an alternative to performance bonds.

Insurance 52

Insurance Contractors Claims ABC 52

Levelset

SEPTEMBER 28, 2022

Podcasts are now an essential medium for sharing information, and experts across the construction industry share their wisdom every day with listeners interested in growing a construction business, learning about the latest construction trends and technology, and building their understanding of construction law and finance. Kid Contractor.

Construction 52

Construction Schedule Safety Industrial 52

Construction Law Monitor

NOVEMBER 9, 2010

Number Two: Lien and Notice Requirements. The lien laws are there to protect folks, but it seems that every state in the Union is a bit conflicted about who the laws are designed to help. In some states, the law is construed in favor of the lien claimant and against all other parties. Number Three: Pay When Paid Clauses.

Legal 71

Legal Lien US Contract 71

Autodesk Construction Cloud

NOVEMBER 15, 2021

A contract should really be a tool to help everyone in the construction industry; it doesn’t have to be this monster document that you just hold your nose, sign, and hope for the best.” Karalynn also brought up the tendency of the industry to pass liability down the chain when drawing up contracts. Make sense of your contracts.

Contract 52

Contract Contractors Negotiation Subcontracting 52

Construction Law Monitor

JUNE 17, 2014

Public bid law is a term of art used in the construction industry to describe any work, construction project or improvement to (immovable) property that is owed by the State of Louisiana or an arm of the state, such as parish or city government (“public entity’). Public Bid Law. The exact language of La R.S.

Louisiana 58

Louisiana Materials Contract Lien 58

Construction Law Monitor

JUNE 16, 2014

Public bid law is a term of art used in the construction industry to describe any work, construction project or improvement to (immovable) property that is owed by the State of Louisiana or an arm of the state, such as parish or city government (“public entity’). Public Bid Law. The exact language of La R.S.

Louisiana 40

Louisiana Materials Contract Lien 40

Levelset

AUGUST 5, 2022

It can be scary just to think about the amount of work and the risks involved. Architects live or die by their ability to manage cash flow — it’s the primary reason why businesses in the construction industry fail. There’s a lot to think about when it comes to starting your own architectural firm. Pay close attention to cash flow.

Architecture 52

Architecture Cash Flow Income Lien 52

Lets Build

APRIL 6, 2022

Retainage is a long-standing practice in the industry that can make life challenging for construction workers. The purpose of retainage is to reduce the owner’s risk of a contractor not completing the project to their specifications. Retainage and mechanic’s liens.

Cash Flow 147

Cash Flow Lien Construction Negotiation 147

Construction Lawyer

JULY 20, 2012

In other words, you use the stuff we post here at your own risk. The question became whether the general or the subcontractor would bear the risk of loss. Fidelity argues that the provision is a pay-if-paid clause, and because Industrial Power did not receive payment, it had no duty to pay the balance due to BMD. To

Illinois 40

Illinois Subcontracting Liability AIA 40

Construction Law Monitor

AUGUST 9, 2011

A liquidating agreement clause can act like a lien, in that it gives causes of action to the subcontractor against the owner where there is no privy of contract. Always consult with an attorney before negotiating contracts in the construction industry no matter how large or small the project. Click here for Daniel S. Sloan pg 17.

Agreement 57

Agreement Contract Insurance Construction 57

Construction Law Monitor

NOVEMBER 2, 2011

AIA – American Institute of Architects is the most common standard form contracts in the construction industry. Very important risk-shifiting devices – can determine a win or loss regarding a claim. Lien Waivers. Commonly litigated subcontract provisions. Notice Provisions. Indemnity Clauses.

Contract 56

Contract Change Orders Lien Contractors 56

Construction Marketing Ideas

MARCH 16, 2016

This cascade of events led to non payments, and both the steel sub and the HVAC sub filed mechanic’s liens against the project. The Court of Appeals agreed saying the symbol was not industry standard, was not included anywhere in the contract documents, and was not referenced in a legend to the drawings.

ProCore 48

ProCore News Drawings Documentation 48

Construction Cost Estimating

MAY 19, 2012

Sage 100 Contractor consists of various takeoff options, industry-specific pricing databases and incorporation with Sage 100 Contractor accounting modules. The building contractor will get faster and precise way for bidding and achieve more projects by creating more estimates in quickest possible time.

Sage 45

Sage Estimating Contractors Accounting 45

Contractor Bookkeeping

JUNE 20, 2014

This organization is good for all construction and related industries. Labor - Can include yourself in the beginning, construction workers , subcontractors and labor pools like Madden Industrial Contractors. Oftentimes the term and coverage of the warranty is beyond normal industry standards.

Insurance 48

Insurance Construction Accounting Claims 48

Contractor Bookkeeping

JUNE 15, 2012

This organization is good for all construction and related industries. Labor - Can include yourself in the beginning, construction workers , subcontractors and labor pools like Madden Industrial Contractors. Oftentimes the term and coverage of the warranty is beyond normal industry standards.

Contractors 48

Contractors Insurance Claims Lien 48

Contractor Bookkeeping

JANUARY 2, 2015

This organization is good for all construction and related industries. Labor - Can include yourself in the beginning, construction workers , subcontractors and labor pools like Madden Industrial Contractors. Oftentimes the term and coverage of the warranty is beyond normal industry standards.

Construction 48

Construction Insurance Accounting Claims 48

Autodesk Construction Cloud

JULY 7, 2022

Unlike industry behemoths, smaller players can move faster and be more nimble because there’s not a lot of corporate red tape. . If you’re an SMB in the construction industry, you’ve likely built a strong reputation that helps you win new and repeat business. . Unfortunately, the industry is struggling to accomplish this. .

Software 105

Software Software Management Construction 105

Construction Law Monitor

MAY 15, 2014

The construction industry, just as any other industry has its own terminology or lingo. There are many examples such as “punch-list,” “lien” and “substantial completion” to name a few. Construction Change Directive: Risks and Rewards. No words are more dreaded than change order.

Change Orders 64

Change Orders Construction Documentation Risk 64

Construction Law Monitor

MAY 14, 2014

-->. The construction industry, just as any other industry has its own terminology or lingo. There are many examples such as “punch-list,” “lien” and “substantial completion” to name a few. Construction Change Directive: Risks and Rewards. No words are more dreaded than change order.

Change Orders 66

Change Orders Construction Documentation Risk 66

Construction Lawyer

APRIL 3, 2012

In other words, you use the stuff we post here at your own risk. ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY. mechanics liens. Although we believe the information is accurate, we do not warrant the accuracy of this information and we do not intend that you rely on this information. Recent Posts.

Claims 40

Claims Agreement Illinois Subcontracting 40

Construction Lawyer

APRIL 24, 2006

In other words, you use the stuff we post here at your own risk. ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY. mechanics liens. Although we believe the information is accurate, we do not warrant the accuracy of this information and we do not intend that you rely on this information. Categories. litigation.

Illinois 40

Illinois AIA Chicago Legal 40

Autodesk Construction Cloud

MAY 5, 2023

However, they felt very accounting-focused and struggled at tracking field-level activities. A shift in the construction software industry Software decisions were primarily made by the IT department or back-office staff in the past, but this trend has changed in recent years.

Office 52

Office Autodesk Accounting Project Management 52

Buisness Facilities Contributed Content

APRIL 15, 2014

Alabama Infrastructure Grant Program: Funds are available to public entities for extension of water, sewer and road facilities to service new or expanding industries. Alabama Industrial Access Road & Bridge Program: Provides financial assistance to communities for industrial access to new and expanding industries.

Income 108

Income Finance Zoning Employment 108

Buisness Facilities Contributed Content

MARCH 21, 2014

CAPCO financing, an alternative to conventional bank financing, can accommodate a slightly higher risk profile and provide a more flexible structure for growing businesses. Industries that qualify for the CAPCO program may include manufacturing, processing, or assembling products; conducting research and development; or providing services.

Income 75

Income Finance Zoning Equipment 75

Buisness Facilities Contributed Content

MARCH 8, 2016

Industrial Effectiveness Program (IEP): Provides technical and financial assistance to help New York State manufacturing firms address competitiveness issues that increase productivity, efficiency and market share. Private businesses involved in industrial, manufacturing, warehousing and distribution. 40% JDA Loan. Not Eligible.

New York 40

New York Finance Products Commercial 40

Construction Lawyer

JUNE 13, 2005

In other words, you use the stuff we post here at your own risk. The Commercial/Multifamily Mold Working Group is made up of MBA members who are industry experts in commercial real estate finance, property inspections and insurance. ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY.

Illinois 40

Illinois AIA Chicago Documentation 40

Buisness Facilities Contributed Content

MARCH 8, 2016

Business Development Loan Program: Designed to assist new and existing businesses in obtaining loans that would have a higher degree of risk than would normally be acceptable to a lending institution. The program is targeted to manufacturing, processing and value-added industries. The maximum limit is $1,000,000 per project.

North Dakota 40

North Dakota Income Finance Equipment 40

Buisness Facilities Contributed Content

JULY 11, 2014

Business Development Loan Program: Designed to assist new and existing businesses in obtaining loans that would have a higher degree of risk than would normally be acceptable to a lending institution. The program is targeted to manufacturing, processing and value-added industries. The maximum limit is $1,000,000 per project.

North Dakota 40

North Dakota Income Finance Equipment 40

Building Information Management

JULY 27, 2016

00 52 33 Agreement Form – Construction Manager at Risk – Stipulated Sum. 00 52 34 Subcontract Form – Construction Manager at Risk – Stipulated Sum. 00 52 36 Agreement Form – Construction Manager at Risk – Cost-Plus. 00 61 16 Lien Bond Form. Affidavit of Release of Liens Form.

Equipment 45

Equipment Construction Schedule Concrete 45