Accounting Construction Lien Risk 
Construction Marketing
SEPTEMBER 9, 2021
Every construction professional knows the downside to missing project deadlines. With that said, few construction teams actually succeed in finishing their jobs on time. The following breakdown looks at 5 common challenges in meeting construction deadlines and provides some simple solutions to help mitigate them. .
Levelset
JUNE 6, 2022
Construction projects rely on contractors completing the work they started and meeting the design intent. 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.
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Autodesk Construction Cloud
SEPTEMBER 13, 2022
But in construction, with razor-thin margins, the stakes are significantly higher and there is little room for the unexpected. So how can companies optimize for their bottom line without putting their businesses at risk? . Risk management is a multifaceted challenge. million in avoidable rework.
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. Establish consistent accounting procedures. Invoice regularly.
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. It’s fairly common, especially on commercial and public construction projects, and typically ranges from 5 - 10% of the total contract price.
NH Construction Law
OCTOBER 22, 2023
It happens this way: A contractor or subcontractor borrows money from a lender, and as security for the loan it gives the lender an assignment of or lien on its receivables and contract rights. Suffolk Construction Co. , Any subsequent square-up was between lender and borrower, and not the account debtor’s concern.
Levelset
AUGUST 16, 2022
To grow a construction business, contractors often pursue larger projects. 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.
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