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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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Service Agreements Can Improve Contractors Cash Flow And Profits

Contractor Bookkeeping

In the meantime, service agreement customers are a source of cash flow and are predetermined to call you instead of your competition when repairs are necessary. They may call your contracting company for future work or they may decide to shop the competition and use the information they find to negotiate for a lower price.

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A position is vacant for Quantity Surveyor / Estimator

Construction Cost Estimating

The candidate should contain at least 5 years experience and onsite experience with contracts with regard to residential housing / Offices / Warehouse construction. Duties and liabilities: • Costings and budgets formation for the allotted projects. Estimate, value, submit and negotiate contract variations.

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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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8 Tips to Manage Cash Flow Like Your Construction Business Depends on It

Autodesk Construction Cloud

Cash flow can make or break any business, especially in the construction industry. To successfully grow, construction firms need to effectively manage cash flow to procure materials, pay vendors and salaries, fund new projects, and finance other day-to-day business operations. Negotiate better contract terms.

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The role of a quantity surveyor in construction sector

Construction Cost Estimating

Liabilities of a Quantity Surveyor: A Quantity Surveyor (QS) is a professional who mainly deals with construction costs and contracts associated with the Construction Industry. Once tenders are approved, the Quantity Surveyor arranges cash flow data for the client to outline his resources sufficiently to fulfill contract commitments.

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Accounting for Retention Receivable & Payable: A Contractor’s Guide

Levelset

The rate of retention is stipulated in the construction contract and can often be negotiated. Both retention accounts are shown as current assets and current liabilities, respectively. Plus, not recording retention payable leads to the understating of a company’s liabilities. Fariba Mehdian. View profile.