article thumbnail

The pros and cons of becoming a subcontractor

Fieldwire

Because subcontracts are negotiated rather than bid upon, you may not need bonds for subcontracts. If the project isn’t finished due to events outside of your control — or if payment negotiations between the general contractor and primary client break down — you may be caught waiting for compensation on finished work and used materials.

article thumbnail

With Inflation, How Can We Help Construction Costs Stay Down?

Fieldwire

The sharp rise in prices has made essential materials such as steel, lumber and insulation unaffordable for many professionals, especially independent contractors. BIM provides real-time data on material costs and availability, helping you stay up-to-date on deliveries despite high prices and material shortages.

professionals

Sign Up for our Newsletter

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

article thumbnail

Job Order Contract Execution Guide – Sample Template

Job Order Contracting

project task/line item, a full description in plain English, a unit of measure and a corresponding unit price, including labor, material, and equipment details, and an associated approved contractor coefficient are to be the basis for Contractor compensation. The JO will be, in part, the. may not, be identified in the UPB. Overhead.

Contract 100
article thumbnail

Tax Reform Impact on Employers and Employees

Revit OpEd

Modification of limitation on excessive employee remuneration: Under current law, an employer generally may deduct reasonable compensation for personal services as an ordinary and necessary business expense. Code Section 162(m) limits the deductibility of compensation expenses in the case of publicly traded corporate employers.

article thumbnail

Contracts need risk management

Construction Law

Covid is having an ongoing impact, unsurprisingly, and it appears that projects that showed signs of stress before Covid impacted on working practices and materials supplies have suffered more than those that were going well before. Worryingly, some 60% of survey respondents expect the number of disputes to rise this year.

Risk 52
article thumbnail

A Recipe for Retaining Your Purchasing Talent

Pro Builder

A good purchasing professional must understand the construction process, local building codes, risk management, the enterprise resource planning system, schedules, the installing trades in a given market and the materials they use, alternative materials that could be used, their cost drivers, and so on—all while being an excellent negotiator.

article thumbnail

Environmental Regulations in Construction: What Contractors Need to Know

Levelset

Construction material suppliers, especially those that produce or distribute solvents and other chemicals, may qualify as LQGs or SQGs. Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). A construction company that is considered a PRP will need to negotiate a settlement agreement with the EPA.