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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. Retainage can cause a cash flow burden for contractors, especially subs at the bottom of the payment chain. Retainage is no different.

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Construction Payment Speed: Winners and Losers

Levelset

Our recent Construction Cash Flow and Payment Report took a deep look at more than 500 construction companies to figure out who is getting paid quickly — and who isn’t. Public projects often have complex payment chains, bond requirements, legal challenges, and government funding. Find more success with payment speed.

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Transforming Construction Payments: Autodesk's Strategic Move with Payapps Acquisition 

Autodesk Construction Cloud

Despite this, both general contractors and subcontractors struggle with the complexities of the payment process and face significant cash flow obstacles. Time and time again, I hear about contractors’ frustrations and struggles with late payments and cash flow and how it negatively impacts their businesses.

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The Startup Construction Business Checklist: 3 Important Documents You Need to Have

Construction Marketing

Although public liability insurance is not a legal requirement, it should be regarded as essential. Something as simple as a customer tripping over a hammer and hurting themselves could result in an accident claim – and without insurance, you could end up facing hefty fines and legal battles. Legal Documents. Business Plan.

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9 Tips for Starting an Architecture Firm

Levelset

Pay close attention to cash flow. Architects live or die by their ability to manage cash flow — it’s the primary reason why businesses in the construction industry fail. Architectural firms need to monitor the cash coming in and going out of the business to ensure they have enough on hand to cover critical expenses.

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Construction Business Owner Blogs

Construction Business Owner

Data Security in the Cloud » Collaborating on Cash flow. The topic of cash flow never seems to get old – after all, sustained negative cash flow often results in slashing budgets, personnel, and in the worst cases shutting down of a company. Technology for Collaboration & Cash Flow.

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What is Project Loss Insurance?

Levelset

When a loss occurs, it can put a real crunch on a contractor’s cash flow. It also helps contractors manage cash flow during a loss. Claim payouts keep the cash flowing, even during a delay or other ongoing loss. On-demand legal help you can afford. Project loss insurance coverage. Learn more.