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#130:  Secured Lenders' Rights to Construction Contract Payments

NH Construction Law

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. Reading Cooperative Bank v. No one thinks to ask whether the contractor has pledged its receivables to secure a loan or line of credit.

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#122:  Construction Loan Disbursement Pitfalls

NH Construction Law

A common feature of residential construction loans is the requirement for periodic inspections of the progress of work, usually by an independent inspection company hired by the bank, before disbursements are made. New Hampshire Savings Bank , 131 N.H. ” And such a voluntary undertaking is exceedingly rare.

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Unique Parts of the European Construction Industry

Constructonomics

As the end of 2015 draws near and the countdown to the Christmas holidays begin we look at some major European construction jobs that are also nearing completion. Unique Examples of the European Construction Industry . For instance if your personal radioactivity meter hits a certain level, it tools down and you’re off site.

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Construction Business Owner Blogs

Construction Business Owner

Drawings have been used by designers for centuries to communicate ideas to the construction trades. Until recently, those drawings were produced by hand, but in the last 25 years or so, computers have become the primary tool people use to produce construction documents. Does an electrical raceway run through a duct bank?

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What Is a Certificate of Insurance (COI) for Contractors — and When Do You Need One?

Levelset

You may secure funding for equipment through a bank or other lender. You may need to maintain insurance records for audit purposes, or to help draw a line between employee and independent contractor statuses. A supplier provides you with tools and building supplies. Staying organized is an additional benefit to tracking COIs.

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Starting Profitable Construction Company Unique Secrets Revealed

Contractor Bookkeeping

In ancient Greece, Socrates argued that education was about drawing out what was already within the student. "I Go to your bank and ask to speak with the commercial banker. Every bank has one and they can be one of your most powerful allies and mentors. The really good news they are on the banks payroll.

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15 Tips For Starting Your Own Roof and Guttering Business

Construction Marketing

Just like any new company, drawing up a business plan is crucial. 10) Business bank account and credit card. A separate bank account will make management easier, and it will help protect your personal assets. Protect your business by securing permits and licenses. 1) Business plan. 2) Startup and ongoing expenses.

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