article thumbnail

The Value Of Service Agreements In Your Construction Company

Contractor Bookkeeping

Service agreement holders are more likely to be clients who add more value to your construction company because they represent your customer base's most loyal segment. Every service agreement customer represents future work. Non-service agreement customers are more likely to be customers and fickle.

article thumbnail

COP27 Recap: The State of Net Zero and Negotiations

Stok

Guest post by Joe Miller , Member of USGBC Delegation to COP27 With COP27 wrapped, here are key announcements and agreements from the conference. The world has made the commitments, the challenge we face in the future is following through on these commitments with accountable action. Also of note was an announcement that major U.S.

professionals

Sign Up for our Newsletter

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

article thumbnail

7 Things Contractors Need to Know About Retainage

Fieldwire

For many construction businesses, the retainage payment accounts for their entire profit margin on the project. Retainage is up for negotiation Retainage is not set in stone. It is governed by the contract, which means it’s part of the agreement between two parties. This can be used in a couple of different ways.

article thumbnail

Service Agreements Can Improve Contractors Cash Flow And Profits

Contractor Bookkeeping

Why Sell Service Agreements? Service agreement holders are more likely to be clients that add more value to your construction company because they represent the most loyal segment of your customer base. Every service agreement customer represents a future work. Every service agreement customer represents a future work.

article thumbnail

Digital Builder Podcast Ep 22: How Specialty Contractors Can Navigate Contracts & Get Paid On Time

Autodesk Construction Cloud

For this reason, construction professionals must find better ways to craft and negotiate agreements. Karalynn also emphasizes the importance of negotiating who takes on certain risks and liabilities. First, there’s the prime contract, which is the agreement that sets the terms between the owner and GC.

article thumbnail

Construction Accounting And Baseball Looks Easy From The Bleachers

Contractor Bookkeeping

What sport do you relate your accounting to? My accounts receivable is off / My accounts payable is off / My inventory isn’t right / My QuickBooks is a mess – And I don’t understand any of the reports. To make it easier to understand - Let’s do a quick comparison between general accounting and sports.

article thumbnail

Army Job Order Contracts FAIL to meet AFARS requirements MOST OF THE TIME

Job Order Contracting

This practice does not work for material, labor, equipment, nor does it account for local market productivity in any effective manner. Locally researched JOC Price Books are readily available to provide cost visibility, cost transparency, and therefore improve cost management. (b) Statement of work. (1) c) Limitations. (1)

Contract 228