Levelset

JULY 21, 2022

In order to perform construction work, many states require contractors to be “licensed and bonded.” Well, every state sets its own rules for contractor licensing, and contractors often must purchase a surety bond in order to legally practice their trade. Learn more: The complete guide to contractor licensing state-by-state.

Contractors 52

Contractors Claims Oregon Residential 52

Levelset

JUNE 6, 2022

Construction projects rely on contractors completing the work they started and meeting the design intent. In an attempt to hold contractors accountable, many projects use retention holdbacks, also known as retainage. These holdbacks need to be accounted for by every party to a project: owner, general contractor, and subcontractor.

Accounting 98

Accounting ABC Banking Liability 98

Construction Law

DECEMBER 2, 2022

ICE’s report says accurate emissions reporting must become integral in the design of major infrastructure if private finance is to help fund green projects. Those projects failing to meet these criteria may struggle to access financing.

Claims 52

Claims Risk Infrastructure Finance 52

Green Building Law Update

APRIL 3, 2016

And that litigation predated the increased liability associated with materials including the new largely untested EPDs and HPDs. Additionally, more lenders, including in green bond financings, are requiring opinions of counsel as part of closing due diligence both in green construction financing and permanent loans.

Green 159

Green Contract AIA Drafting 159

Construction Business Owner

JANUARY 30, 2011

Accounting & Finance. » Relationship between the designer and the contractor. One part of our industry that I simply cannot get my head around is the oftentimes adversarial relationship that exists between the building design professionals and the building contractors on a particular job. MANAGEMENT |. ACCOUNTING |.

Contractors 120

Contractors Design Software Software 120

Contractor Bookkeeping

AUGUST 27, 2014

QuickBooks For Contractors Setup. We Fix Bad QuickBooks For Contractors Setup Issues. Let us handle your QuickBooks setup for your contracting company because accurate QuickBooks contractor reports are what profitable contractors use to help them steer their construction company through the ups and downs of the business cycle.

Contractors 88

Contractors Accounting Work in Progress Profitability 88

Green Building Law Update

APRIL 3, 2016

And that litigation predated the increased liability associated with materials including the new largely untested EPDs and HPDs. Additionally, more lenders, including in green bond financings, are requiring opinions of counsel as part of closing due diligence both in green construction financing and permanent loans.

Green 120

Green Contract AIA Drafting 120

NH Construction Law

AUGUST 13, 2020

The Contractor and Owner waive Claims against each other for consequential damages arising out of or relating to this Contract. A contractor's might or might not be; its lost profits on the contract breached will qualify as direct damages, but lost profits on concurrent or future projects will not.

Profitability 40

Profitability Contract Liability Bargains 40

Construction Business Owner

JUNE 29, 2012

Accounting & Finance. Committing Intentional Project Communications » Public Exposure and Liability on Construction Sites. The contractor doing the work was working for the city at the time. The city was the “general contractor” and owner of this project. Public Exposure and Liability on Construction Sites.

Construction 120

Construction Safety Software Software 120

Job Order Contracting

FEBRUARY 16, 2017

CMAR inovlves contractors is in the design process, but without design liability intended. The design-build, DB, construction delivery method, is structure to make a single entity, generally the construction contractor, responsible for design and construction. Construction Manager at Risk – CM@R. Design Build -DB.

Construction 100

Construction Risk Bidding Renovating 100

Autodesk Construction Cloud

SEPTEMBER 1, 2022

Under a cost-plus contract, contractors are paid for all of their construction-related expenses. This type of construction contract is usually looked upon pretty favorably by contractors. Under the guaranteed maximum price (GMP) contract, the maximum amount the owner will have to pay the contractor is capped. Cost-Plus Contract.

Contract 98

Contract Maine Construction Agreement 98

Construction Business Owner

FEBRUARY 16, 2012

Accounting & Finance. » Contractors Seeking Credit Should Prepare to be Prepared. Bank lines of credit are lifelines for many contractors, yet convincing a bank to provide or renegotiate a line of credit is not easy. There are also some approved finance companies, such as GECC, that will finance heavy equipment purchases.

Banking 120

Banking Construction Cash Flow Finance 120

Job Order Contracting

FEBRUARY 20, 2023

(a) A JOC should be considered when the workload is anticipated to be of such a yearly volume that benefits derived from a JOC utilization are greater than the costs of the Government resources and contractor overhead associated with establishing and using a JOC. b) Statement of work. (1) d) Distribution. c) Authorization and limitations. (1)

Contract 228

Contract Office Negotiation Documentation 228

Contractor Bookkeeping

JUNE 21, 2012

Construction Companies - Need short term liquid working capital such as cash, lines of credit, loans, owner financing, credit cards, supplier accounts and other forms of money to conduct daily operations. What Often Happens - Is that contractors hate paperwork preferring to keep everything in their head. The trouble is about to start!"

Profitability 48

Profitability Contractors Banking Change Orders 48

Contractor Bookkeeping

JUNE 15, 2012

New Contractor's Levels of Stress. You Quit Your Job - And started a construction business only to discover you need a contractor’s license and bond. Use Credit Cards - And supplier accounts to finance your new business and be very careful about what you buy. And spend time learning about Networking For Contractors.

Contractors 48

Contractors Insurance Claims Lien 48

Construction Business Owner

SEPTEMBER 27, 2011

Accounting & Finance. A lot of contractors have asked me about Section 179. Most of these contractors are considering an investment in equipment or software, and they want to know if it can actually help their construction business. Public Exposure and Liability on Construction Sites. MANAGEMENT |. ACCOUNTING |.

Construction 180

Construction Software Software Accounting 180

Construction Law Monitor

AUGUST 2, 2011

For all you Louisiana public works contractors out there bidding for public works projects to expand your private business or bidding for public works projects because that’s what you’ve always done – whatever the case may be – the 4th Circuit Court of Appeals is on your side. Wallace won on the issue of liability before trial began.

Louisiana 44

Louisiana Bidding Contractors Finance 44

Constructlaw

MAY 3, 2023

The number and type of actors on any given project may vary, but the project’s key actors typically include: The principal participants, which are usually: the owner, also sometimes referred to as the employer; and the contractor, also sometimes referred to as the general or prime contractor. Design architects and engineers.

Construction 52

Construction Claims Contractors US 52

Construction Business Owner

AUGUST 19, 2011

Accounting & Finance. One of my favorite parts of this job is getting to talk with professionals in the industry who work with contractors for a living. And, let’s face it: the kind of individual driven to be a general contractor is often not the kind that relishes tedious office work and long hours spent analyzing numbers.

Construction 120

Construction Software Software Accounting 120

Levelset

JUNE 16, 2022

A large amount of that funding is going to go directly to individual states, and with the state adopting new laws in 2021 that reconfigure the bidding process — along with adding the “design-build” option to the public construction process — there are plenty of opportunities for contractors across New Jersey. Preliminary notice requirements.

New Jersey 52

New Jersey Lien Claims Contract 52

Construction Business Owner

AUGUST 18, 2011

Accounting & Finance. Many State and Federal projects require a contractor to be bonded. In a way, a surety bond is like insurance; it is a three-part agreement between the contractor, the organization requiring the bond (e.g. This report illustrates how a contractor bills a client versus the work they have actually completed.

Cash Flow 168

Cash Flow Software Software Accounting 168

Construction Business Owner

MAY 29, 2012

Accounting & Finance. Contractors in today’s marketplace are caught in the middle of a paper and paperless culture. Many contractors haven’t taken advantage of digital document solutions, and the ones that have are still dealing with high volumes of data. Public Exposure and Liability on Construction Sites. MANAGEMENT |.

Construction 120

Construction Software Software Cash Flow 120

Construction Business Owner

JUNE 29, 2012

Accounting & Finance. Public Exposure and Liability on Construction Sites » Better Project Management through Better Communication. Contractors need to proactively evaluate and address how project teams – including subs and vendors – are communicating. Public Exposure and Liability on Construction Sites.

Construction 136

Construction Documentation Software Software 136

Construction Business Owner

JULY 12, 2012

Accounting & Finance. « Public Exposure and Liability on Construction Sites. Let’s look at a few important improvements that most contractors can make. Public Exposure and Liability on Construction Sites. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management. Recent Posts.

Construction 136

Construction Documentation Software Software 136

Construction Business Owner

NOVEMBER 8, 2011

Accounting & Finance. It crystallizes our mission to make contractors’ jobs easier and we put that mission into our own words: “When better is possible, good is not enough.” For instance, Foundation Software’s vision is this: “To provide the best in accounting software and service for the labor intensive contractor.”

Construction 174

Construction Software Software Accounting 174

Construction Business Owner

AUGUST 30, 2011

Accounting & Finance. You know, lots of contractors using an off-the-shelf accounting program ask me the same question: Why is construction-specific accounting software so much more expensive? Construction-specific systems allow contractors to instantly track and analyze job progress and performance. MANAGEMENT |. ACCOUNTING |.

Construction 168

Construction Software Software Accounting 168

Construction Business Owner

OCTOBER 26, 2011

Accounting & Finance. I know a lot of contractors are getting into bidding season, and this got me thinking about communication. I know from my days as a general contractor that plans and specifications are altered continuously as subcontractors become involved, materials are changed, and change orders are issued. MANAGEMENT |.

Construction 159

Construction Software Software Bidding 159

Construction Business Owner

OCTOBER 10, 2011

Accounting & Finance. What happens when construction expert George Hedley gathers 15 different contractors from all over the country, puts them in a room for 2 days and leads an open discussion? What I can tell you is encouraging: There are contractors who are succeeding in this economic climate. MANAGEMENT |. ACCOUNTING |.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

JANUARY 6, 2011

Accounting & Finance. There is just something special about being around contractors. One of the things I enjoy most about my position at ComputerEase is that I have the opportunity to deal with different contractors everyday and have the opportunity to help them with their construction software needs. MANAGEMENT |. SOFTWARE |.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

NOVEMBER 22, 2011

Accounting & Finance. Many contractors go into business because they’re great at what they do. I know a successful excavating contractor that took over his father’s grave digging business when he was younger. Public Exposure and Liability on Construction Sites. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |.

Construction 159

Construction Software Software Accounting 159

Construction Business Owner

JANUARY 18, 2012

Accounting & Finance. Mid-January is a time of reflection for many contractors. Public Exposure and Liability on Construction Sites. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management. Software & Technology. Construction Law. People Management. Green Building. Construction Safety.

Construction 168

Construction Software Software Accounting 168

Buisness Facilities Contributed Content

APRIL 15, 2014

CAPCO financing, an alternative to conventional bank financing, can accommodate a slightly higher risk profile and provide a more flexible structure for growing businesses. Terms for both are normally 10-20 years and can finance up to 100% of the project costs. ALABAMA - updated for 2014. They are: The Renewal Program.

Income 108

Income Finance Zoning Employment 108

Contractor Bookkeeping

AUGUST 16, 2013

Assets - Liabilities) = Equity. -. What little of it I have seen makes me very upset because I see the damage caused to contractors making management decisions on inaccurate reports. Chart of Accounts Financing Costs. Chart of Accounts Insurance Liability. Chart of Accounts Financing Costs. Cash On Hand.

Work in Progress 59

Work in Progress Accounting Construction Leases 59

Construction Business Owner

APRIL 1, 2011

Accounting & Finance. One problem that even the most savvy contractors deal with is profit fade, when a job continues to incur additional costs that are not factored into the estimate. Public Exposure and Liability on Construction Sites. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. Recent Posts.

Cash Flow 120

Cash Flow Construction Software Software 120

Construction Business Owner

APRIL 4, 2011

Accounting & Finance. Contractor, do for me? It is up to us, the contractor, to shape the message effectively and communicate to the client what the building will cost, an estimated time line to completion and any inherent issues that need to be addressed as early in the project as possible. MANAGEMENT |. ACCOUNTING |.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

APRIL 5, 2012

Accounting & Finance. Contractors work in the middle of a chain of risk passed onto them. Even if this doesn’t become an actual source of profit in and of itself, contractors who actively work to understand and control risk are in a position to make smarter project decisions that lead to higher profit margins. SOFTWARE |.

Risk 120

Risk Insurance Construction Software 120

Construction Business Owner

MARCH 1, 2012

Accounting & Finance. There’s been a lot of talk about BIM and more recently IPD as project collaboration solutions, but adoption by contractors has been slow. With these improved technologies, we’ll see healthier projects and cash flow, not to mention happier contractors. Public Exposure and Liability on Construction Sites.

Cash Flow 120

Cash Flow Construction Software Software 120