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7 Things Contractors Need to Know About Retainage

Fieldwire

Retainage is up for negotiation Retainage is not set in stone. Every contract is negotiable, including what percentage is retained and for how long. BLOG How to Streamline Construction Processes from Planning to Payments Learn more → In addition, the same contract has a provision for negotiating variable retainage.

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7 Contractor Tips for Dealing With Insurance Adjusters & Owners

Levelset

As a contractor, you rely on the property owner to pay you for your work and materials. In turn, the owner is relying on the insurance company to pay their claim. Dig deeper: What contractors need to know about the insurance claims process. Avoid insurance negotiations. Be clear about rights & responsibilities.

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The Bird Box Dilemma: When False Pay Apps and Lien Waivers Are Not Fraudulent Inducement

Best Practices Construction Law

As a construction litigation attorney, the “claim” is often about telling the story of a breach of contract, or failed expectations, or unforeseen delays, all through the testimony of individuals or the introduction of documents. Accordingly, the court granted the motion to dismiss the fraudulent inducement claim.

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Arbitration is Why There is So Little Litigation in Green Building

Green Building Law Update

Appreciate that this limited number of disputes pursuing courtroom redress exists against a backdrop of a rising number of actual claims in green building construction projects. Legal scholars can have at it. And the dollar amount of those claims is increasing. Even the Green Business Certification Inc.

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Digital Builder Podcast Ep 22: How Specialty Contractors Can Navigate Contracts & Get Paid On Time

Autodesk Construction Cloud

For this reason, construction professionals must find better ways to craft and negotiate agreements. Karalynn also emphasizes the importance of negotiating who takes on certain risks and liabilities. What this tries to do is shift the risk of material price increases to the general contractor, and then from the general to the subs.”.

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Assignment of Benefits for Contractors: Pros & Cons of Accepting an AOB

Levelset

When a property owner files an insurance claim to cover a restoration or roofing project, the owner typically deals directly with the insurance company. An assignment of benefits , or AOB, is an agreement to transfer insurance claim rights to a third party. AOBs take the homeowner out of the claims equation. Setting up an AOB.

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#122:  Construction Loan Disbursement Pitfalls

NH Construction Law

The idea is that the loan disbursements should pay only for properly completed work (or suitably stored materials on site), and the inspector better able than the homeowner/borrower to gauge this. Nor does a negligence claim against the inspector appear promising. That puts the owner/borrower in a pickle. Don’t count on it.

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