Agreement Contractors Lien Negotiation 
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. The basics of retainage Retainage, also called retention, is an amount withheld from the contractor until a later date.
Best Practices Construction Law
DECEMBER 18, 2019
Although the projects involved different prime contractors, the same specialty door subcontractor was claimed to have failed to pay the sub-subcontractor, who sued for approximately $140,000. certifications and/or lien waivers) to the prime contractors to obtain payment. Mass) (Dec.
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Levelset
APRIL 15, 2022
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. Contractors often wish they could simply deal with the insurance company directly through an assignment of benefits. The AOB agreements need to be in writing.
Autodesk Construction Cloud
NOVEMBER 15, 2021
Owners pass on certain risks (contractually) to general contractors, who may do the same thing when hiring specialty contractors. For this reason, construction professionals must find better ways to craft and negotiate agreements. The GC then hires contractors, which is where the subcontractor agreement comes into play.
NH Construction Law
FEBRUARY 25, 2023
Owner/borrowers like it as well; preventing the contractor from getting ahead of them in payments incentivizes proper contract performance, and a set of professional eyes to determine whether the contractor’s draw requests are justified is a welcome feature. ” And such a voluntary undertaking is exceedingly rare.
Best Practices Construction Law
NOVEMBER 6, 2019
The Supreme Court of Vermont recently held that the conditions attached to a contractor’s payment of retainage to a subcontractor violated the state’s Prompt Pay Act. By letter to the subcontractor, the contractor refused to pay the additional monies. ” The contractor did not reply. In J&K Tile Company v.
Construction Law Monitor
AUGUST 9, 2011
Liberty Mutual Insurance Company (“Sloan”), the US Court of Appeals for the Third Circuit has an in depth discussion regarding some technical yet very important clauses found within many construction contracts between general contractor, subcontractors, owner and the surety. Liquidating Agreement. Sloan pg 17. See Carl A.
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