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7 Things Contractors Need to Know About Retainage

Fieldwire

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 basics of retainage Retainage, also called retention, is an amount withheld from the contractor until a later date.

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A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered?

Levelset

Restoration contractors often work on a property after damage from a storm, fire, or other natural disaster. On projects like this, property owners typically count on an insurance claim to pay for the work – they may not have cash on hand to pay you out of pocket. Understanding homeowner insurance policies. Insuring agreement.

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Additional Insured Endorsements & How They Work in Construction

Levelset

An insurance policy rarely meets every contractor’s needs out of the box. One of the most common endorsements you’ll likely encounter involves additional insured (AI) parties. In this article, we’ll explain additional insured endorsements, and how they work in construction. What is an additional insured?

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A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered?

Levelset

Restoration contractors often work on a property after damage from a storm, fire, or other natural disaster. On projects like this, property owners typically count on an insurance claim to pay for the work – they may not have cash on hand to pay you out of pocket. Understanding homeowner insurance policies. Insuring agreement.

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Assignment of Benefits for Contractors: Pros & Cons of Accepting an AOB

Levelset

When a property owner files an insurance claim to cover a restoration or roofing project, the owner typically deals directly with the insurance company. They may not have the funds available to pay the contractor out of pocket, so they’re counting on that insurance check to cover the construction costs.

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Sparks agree 7% wage increase from 2024

Construction Enquirer

Electricians are set for a 7% wage rise from 2024 after a new pay deal was hammered out by electrical contractors and union Unite under the JIB collective agreement. “This agreement gives us an opportunity to work with Unite on longer-term ambitions to update and modernise the industry to improve skills for a low carbon economy.”

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Construction Law: April 2024

Construction Law

Termination Spiking the guns of trigger-happy contractors Barrister Nick Kaplan of 3 Paper Buildings analyses a Technology and Construction Court decision in the first case where it considered whether a contractor had validly exercised a right to terminate under a JCT contract. Permission to appeal has already been granted.