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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. It’s fairly common, especially on commercial and public construction projects, and typically ranges from 5 - 10% of the total contract price.

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Construction Law: May 2024

Construction Law

Guest editor JCT 2024 ducks the difficult issues JCT’s Design and Build contract has been updated for the first time in eight years. Paul-Raphael Shehadeh of Duane Morris analyses a dispute that will be of great interest to insolvency and international arbitration practitioners, that highlights the benefits of a negotiated dispute settlement.

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10 Contract Terms for Higher Profitability

PSMJ Resources

With an uncertain economic climate, the emphasis on solid contract terms is increasingly vital to a firm''s financial success. Most clients are demanding more work for lower fees, and firms that do not reexamine the terms of their contracts usually find themselves without enough income to break even, let alone make a profit.

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Construction Business Owner Blogs

Construction Business Owner

INSURANCE |. When you approach your chosen lender(s), be open about your financial situation, including any typically slow work and cash-flow periods. Many contractors negotiate payment due dates with their vendors to get themselves out of short-term cash binds. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |.

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A position is vacant for Assistant Quantity Surveyor in North West England

Construction Cost Estimating

Help in administering and preserving the contract cost reporting system as ordered by the line manager. Get cash flows ready for payments in and out. Facilitating the sub-contract tender procedure by providing support for creating the sub-contract documentation. Produce payment certificates for sub-contract work.

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Construction Business Owner Blogs

Construction Business Owner

INSURANCE |. Tip #1: Negotiate Fuel Costs. Before you go down the negotiating path, be sure you know your overall consumption by gallons. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. August 2012.

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Unique Tips To Reduce Construction Company Start Up Stress

Contractor Bookkeeping

Insurance - Is critical to your construction company. General Liability and Auto/rental equipment insurance can help protect you and your company against claims for personal injury and property damage, and may provide you with legal defense of those claims. Bonds or guarantees are provided by surety companies.