Remove Contractors Remove Documentation Remove Lien Remove Risk
article thumbnail

You Risk Paying Twice When Sub-Contractors Don’t Pay Their Bills

Wolgast Corporation

Liens Can Wreak Havoc on Funding. If you haven’t built a building in the last couple of years, you may be surprised when your banker tells you that they want to hire a Title Company to handle all of your payments to not only the General Contractor, but also directly to the General Contractor’s second tier Sub-Contractors.

Lien 118
article thumbnail

4 Key Habits of Large, Successful Contractors

Levelset

Levelset’s recent 2022 Cash Flow & Payment Report revealed some key differences between large, successful contractors and smaller construction businesses. However, smaller construction businesses are much less likely to prequalify their customers than larger businesses — and that could increase the risk of slow payment.

Lien 98
professionals

Sign Up for our Newsletter

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

article thumbnail

What Contractors Need to Know About Surety Bonds

Construction Marketing

If you want to be a contractor, being licensed and bonded will have a major impact on your ability to work in the city and state where you live and work. Many state and local governments require that contractors who perform work above a threshold amount obtain licenses. What Are Surety Bonds? Bond Types.

article thumbnail

5 Challenges in Meeting Construction Deadlines and How To Solve Them

Construction Marketing

Each project will consist of an intricate network of contractors and subcontractors that must be on the same page in order for important construction goals and milestones to be reached. However, many construction projects stall as workers wait around for important documents and approvals giving them the go-ahead to do their jobs.

Lien 185
article thumbnail

The Preconstruction Phase: Understanding the Process & Risks

Levelset

An architect, designer, or design-bid contractor will perform planning and engineering services for a prospective project owner, providing them with the information they need to move forward. As one of the most important stages of a project, project owners and contractors realize a lot of benefits. Construction documents.

Risk 52
article thumbnail

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

Autodesk Construction Cloud

In reality, it’s often a monster document packed full of legalese that can be difficult to understand. A contract should really be a tool to help everyone in the construction industry; it doesn’t have to be this monster document that you just hold your nose, sign, and hope for the best.”

article thumbnail

constructionattorneyblog: illinois supplier denied mechanics lien

Construction Lawyer

His book, Legal Guide to AIA Documents, published by Aspen Publishing, is in its fifth edition. He is a partner in the law firm of Sabo & Zahn, concentrating in construction law and representing owners, contractors, architects, developers, engineers and other parties in the construction process. illinois supplier denied mechanics lien.

Lien 40