article thumbnail

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. Retainage is up for negotiation Retainage is not set in stone. Every contract is negotiable, including what percentage is retained and for how long.

article thumbnail

Test the Bounds of Job Order Contracting?

Job Order Contracting

California Contractor Tests the Bounds of Job Order Contracting. Among other things, Torres argued: The JOC contract, because it required that job order proposals be submitted after-the-fact, was not an enforceable contract but merely an agreement to negotiate. JOC Contract: Enforceable Contract or Mere Agreement to Negotiate.

Contract 130
professionals

Sign Up for our Newsletter

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

article thumbnail

Commercial Construction Strategies: Flagship Stores to Footprint Expansion

HardHatChat

Bringing the general contractor in as early as possible and negotiating with them to manage these challenges for you will ensure a smooth and successful project. Typically, ownership at a multi-use property will set hours for construction work based on peak hours and what’s going on in the building at different times of day.

article thumbnail

Secrets of a structural engineer

BD+C

Scott Martin, PE, LEED AP, DBIA Building Team Contractors Designers Designers / Specifiers / Landscape Architects Engineers Facility Managers Architects Building Owners Recently, I was asked to present to a group of aspiring engineers at the Florida A&M-Florida State University College of Engineering.

article thumbnail

How to Protect Your Business When Employees Get Poached

Pro Builder

Here’s an example: A California sales executive who jumped ship for a competing employer took along a folder of customer lists and marketing plans. This area of law is growing quickly,” says Ben Mathis, an Atlanta attorney and managing partner of the nationwide law firm of Freeman Mathis & Gary. Business Management.

article thumbnail

10 Construction Sessions You Might Have Missed at Autodesk University

Autodesk Construction Cloud

The introduction of BIM, cloud based takeoff tools, AI, and bidding platforms have all shaken up the way estimating and preconstruction management operates. . They will also discuss why connected technology stacks are essential and non-negotiable for contractors who want to future proof their businesses. .

article thumbnail

What is Retainage in Construction?

Lets Build

Large upfront costs and long waiting periods between payments are a normal occurrence; retainage adds to this cash flow problem for contractors and project managers. Retainage percentages and negotiations. You can also negotiate for variable retainage, which can work in a couple of different ways.

Cash Flow 147