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Not Just An Old Wives’ Tale: Negotiating “Paid In Full” Check Binds Contractor

Best Practices Construction Law

The contractor won a bid to construct a water system in two local counties. Upon completion of the project, the owner sent contractor a check marked “Final Payment,” but the check did not compensate the contractor for its increased construction costs as a result of the delays or for the extra-contractual project expansion.

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Winning More Construction Bids: A Complete Guide

Autodesk Construction Cloud

Construction bids are critical to winning more work, so it pays to have a solid understanding of what they entail and what you can do to improve your bidding performance. . In this comprehensive guide, we’ll cover everything you need to know about construction bids. What is the Construction Bidding Process?

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Pricing and sales compensation: Making it work

Construction Marketing Ideas

“Low bid” ma win the job, but cost your business its profitability and even survival. Pricing and sales compensation are among the messiest aspects of business. This allows room for some negotiation if it is appropriate, but prevents giving away the store. But this leads to complexities and risks of a different sort.

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Best Practices for Developing a Contractor’s Request for Compensation

Best Practices Construction Law

My mentor and good friend, Cordell Parvin , has over the years shared with me some great best practices for contractors—whether talking about bid protests, accidents on the jobsite, or filing a claim. Recently, Cordell sent me a list of items that all contractors should review when developing a request for additional compensation.

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The pros and cons of becoming a subcontractor

Fieldwire

Because subcontracts are negotiated rather than bid upon, you may not need bonds for subcontracts. The techniques required to maintain a good client-contractor relationship — like regular communication, transparency and flexibility — will still be essential. As a subcontractor, your payment is often dependent upon a general contractor.

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“Paid in Full” Wives’ Tale True? When Endorsing A Check, Yes Ma’am!

Best Practices Construction Law

The contractor won a bid to construct a water system in two local counties. Upon completion of the project, the owner sent contractor a check marked “Final Payment,” but the check did not compensate the contractor for its increased construction costs as a result of the delays or for the extracontractual project expansion.

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A Recipe for Retaining Your Purchasing Talent

Pro Builder

A good purchasing professional must understand the construction process, local building codes, risk management, the enterprise resource planning system, schedules, the installing trades in a given market and the materials they use, alternative materials that could be used, their cost drivers, and so on—all while being an excellent negotiator.