Remove Accounting Remove Contractors Remove Lien Remove Reference
article thumbnail

Texas ‘Retainage’ vs. ‘Reserved Funds’: What’s the Difference & Why it Matters

Levelset

Given the slim profit margins on construction projects, retainage practices can be incredibly frustrating for contractors. In Texas, there are technically two different types of “retainage,” one referred to as such, and the other referred to as “reserved funds.”

Texas 52
article thumbnail

How To Negotiate A Higher Credit Limit With Your Building Material Supplier

Levelset

Contractors trying to grow their business and take on larger projects often struggle to manage their cash flow to purchase the materials they need. Many contractors use trade credit to delay paying for materials and keep more cash in their pockets. These references give suppliers a historical context to assess their risk.

professionals

Sign Up for our Newsletter

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

article thumbnail

constructionattorneyblog: illinois supplier denied mechanics lien

Construction Lawyer

He is a partner in the law firm of Sabo & Zahn, concentrating in construction law and representing owners, contractors, architects, developers, engineers and other parties in the construction process. All references to "Sabo & Zahn" refer to Sabo & Zahn LLC. illinois supplier denied mechanics lien. Copyright Notice.

Lien 40
article thumbnail

constructionattorneyblog: Subcontractor's Mechanics lien allowed.

Construction Lawyer

He is a partner in the law firm of Sabo & Zahn, concentrating in construction law and representing owners, contractors, architects, developers, engineers and other parties in the construction process. All references to "Sabo & Zahn" refer to Sabo & Zahn LLC. Subcontractors Mechanics lien allowed where bank seized generals funds.

Lien 40
article thumbnail

4 Factors Underwriters Consider When Issuing a Construction Bond

Levelset

To grow a construction business, contractors often pursue larger projects. Some contractors watch as their gross profit margins decrease when they take on larger jobs. A bonding company will want to understand the scope of a project and how it compares to work the contractor has completed in the past.

Risk 52
article thumbnail

Idle Equipment not entitled to Lien in Missouri

Construction Lawyer

He is a partner in the law firm of Sabo & Zahn, concentrating in construction law and representing owners, contractors, architects, developers, engineers and other parties in the construction process. All references to "Sabo & Zahn" refer to Sabo & Zahn LLC. Idle Equipment not entitled to Lien in Missouri. Disclaimer.

Lien 40
article thumbnail

constructionattorneyblog: New York court holds that contractor.

Construction Lawyer

He is a partner in the law firm of Sabo & Zahn, concentrating in construction law and representing owners, contractors, architects, developers, engineers and other parties in the construction process. All references to "Sabo & Zahn" refer to Sabo & Zahn LLC. April 30, 2012 in litigation , mechanics liens | Permalink.