HardHatChat
APRIL 12, 2019
Any long-time readers of Hard Hat Chat have probably picked up on the fact that I’m a big fan of the negotiated bid. While there are valid reasons a client might go the competitive bid route, there are many more scenarios where the negotiated delivery method is better for all parties. There are several benefits to doing so.
HardHatChat
AUGUST 28, 2018
Budget is always a major consideration for our commercial construction clients, and as a general contractor we devote significant time to the budgeting process. That’s because in a competitive bid the commercial contractor is only responsible for bidding exactly what is in the plans, not the overall design intent.
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Levelset
JUNE 6, 2022
In an attempt to hold contractors accountable, many projects use retention holdbacks, also known as retainage. These holdbacks need to be accounted for by every party to a project: owner, general contractor, and subcontractor. The rate of retention is stipulated in the construction contract and can often be negotiated.
HardHatChat
MARCH 13, 2013
Being a national commercial construction general contractor can be an immensely rewarding profession. There is always a sense of pride and accomplishment after completing a retail construction, restaurant construction and commercial construction project for a client. They should be selling their product, not negotiating with vendors.
Pro Builder
OCTOBER 10, 2022
A recent report from MyEListing.com, a commercial real estate website, found that roughly 15% of American households are behind on rent this fall, particularly in states like South Dakota and Alabama, where median rents are on the rise. . Soaring inflation and historically high housing costs are putting increased pressure on U.S.
Fieldwire
AUGUST 14, 2023
It’s fairly common, especially on commercial and public construction projects, and typically ranges from 5 - 10% of the total contract price. 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.
Job Order Contracting
FEBRUARY 20, 2023
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)
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