Construction Marketing

SEPTEMBER 9, 2021

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. Delays of even a few hours early in the build begin to compound, with weeks added to the project in some cases as contractors are forced to reschedule. .

Lien 182

Lien Construction Schedule Risk 182

Best Practices Construction Law

JUNE 15, 2022

when you are going to get paid…”Contractor shall pay Subcontractor within 15 days after receipt of payment from the Owner.”); pay if paid is a function of whether you get paid (i.e., shifting the risk of nonpayment … “Payment from the Owner to the Contractor is a condition precedent to payment from the Contractor to the Subcontractor.”).

Virginia 118

Virginia Contract Lien Construction 118

Levelset

FEBRUARY 10, 2022

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. What is preconstruction?

Risk 52

Risk Feasibility Bidding Budgeting 52

NH Construction Law

OCTOBER 9, 2019

RSA 447:9 and :10 provide that a mechanic’s lien must be secured through an attachment of the property improved within 120 days of the lienor’s last furnishing of labor or materials. I conclude that the 120-day deadline for an attachment to perfect a mechanic’s lien may be extended by agreement with the owner.

Lien 40

Lien Security Agreement Materials 40

Levelset

APRIL 15, 2022

They may not have the funds available to pay the contractor out of pocket, so they’re counting on that insurance check to cover the construction costs. Contractors often wish they could simply deal with the insurance company directly through an assignment of benefits. Pros & cons for contractors. Setting up an AOB.

Insurance 52

Insurance Contractors Lien Claims 52

Levelset

MARCH 21, 2022

Restoration contractors can spend a lot of time waiting for payment. To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet. Protect your lien rights. Set expectations with your customer.

Cash Flow 98

Cash Flow Insurance Lien Management 98

Levelset

APRIL 28, 2022

In recent years, inflation, supply chain issues, and labor shortages have only increased the likelihood of project delays, performance issues, and contractor default. While general contractors commonly use performance bonds to reduce the risk of default, a bond ultimately protects the property owner, not the GC.

Insurance 52

Insurance Contractors Claims ABC 52

Autodesk Construction Cloud

FEBRUARY 1, 2024

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. Increasing financial risk.

Autodesk 87

Autodesk Cash Flow Construction Risk 87

Levelset

MAY 23, 2022

How individual specialty contractors handle these costs vary, but as the saying goes, “Cash is king.” Getting paid in a timely manner is another challenge for specialty contractors since the average payment collection time for the construction industry is around 90 days. Protect your lien rights.

Cash Flow 59

Cash Flow Lien Accounting Construction 59

Levelset

FEBRUARY 15, 2022

Keep reading as we drill down deeper on the design development phase, including the work performed and how businesses can mitigate risk. It’s essentially the architect taking the project owner’s ideas and turning them into a roadmap for contractors, subs, and code enforcement to follow. Risks of the design development phase.

Design 52

Design Lien Budgeting Budget 52

Levelset

MARCH 16, 2022

Also, the general contractor or project manager will check on the subs constantly to ensure that they’re doing the work according to the contract, staying on top of deadlines, and maintaining the budget. The architect may also assist the project owner in the bidding and contractor selection process during this phase.

Lien 52

Lien Construction Budgeting Budget 52

Construction Dive

SEPTEMBER 3, 2015

By Bruce Jervis Prime contractors have cause for concern that their subcontractors are paying lower-tier subcontractors and suppliers. Unpaid parties at the bottom of the chain can create a multitude of problems, including mechanic’s liens, payment bond claims and risk of double payment by the contractor.

Contractors 48

Contractors Lien Claims Regulation 48

Fieldwire

AUGUST 6, 2023

Patrick is the CEO at Handle.com which builds software that helps contractors, subcontractors, and material suppliers secure their lien rights and get paid faster. Scheduling conflicts and missed deadlines can lead to contractors inadvertently cutting corners in order to catch up.

Project Management 98

Project Management Management Construction Budgeting 98

Levelset

SEPTEMBER 23, 2022

General contractors know these risks when they take the role. But what if the general contractor isn’t at fault, and a subcontractor is to blame? Does a general contractor’s insurance cover their subcontractors’ accidents or mistakes? Luckily, that’s what insurance is for, right? GC insurance & subcontractor coverage.

Insurance 52

Insurance Liability Accidents Risk 52

Construction Lawyer

MARCH 13, 2012

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. In other words, you use the stuff we post here at your own risk. illinois supplier denied mechanics lien. LEXIS 153 (2nd Dist.,

Lien 40

Lien Illinois AIA Chicago 40

Levelset

AUGUST 16, 2022

To grow a construction business, contractors often pursue larger projects. However, larger projects come with greater risks and additional challenges. Some contractors watch as their gross profit margins decrease when they take on larger jobs. Sufficient working capital.

Risk 52

Risk Cash Flow Construction Banking 52

Autodesk Construction Cloud

NOVEMBER 15, 2021

Owners pass on certain risks (contractually) to general contractors, who may do the same thing when hiring specialty contractors. Karalynn also emphasizes the importance of negotiating who takes on certain risks and liabilities. The shifting of risk and liabilities is a very common practice when drafting contracts.

Contract 52

Contract Contractors Negotiation Subcontracting 52

Construction Dive

JUNE 16, 2016

By Bruce Jervis Public works payment bond statutes require prime contractors to furnish payment bonds for the protection of parties that provide labor or materials to the project. For subcontractors and suppliers, which are unable to lien public property, these bonds are the only effective form of payment assurance.

Lien 48

Lien Liability Risk Safety 48

NH Construction Law

FEBRUARY 25, 2023

Owner/borrowers like it as well; preventing the contractor from getting ahead of them in payments incentivizes proper contract performance, and a set of professional eyes to determine whether the contractor’s draw requests are justified is a welcome feature. ” And such a voluntary undertaking is exceedingly rare.

Banking 40

Banking Inspections Construction Lien 40

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

Levelset

MAY 2, 2022

Contractors trying to grow their business and take on larger projects often struggle to manage their cash flow to purchase the materials they need. Many contractors use trade credit to delay paying for materials and keep more cash in their pockets. If you are a subcontractor, you can review your general contractor’s payment activity.

Negotiation 52

Negotiation Materials Cash Flow Finance 52

Best Practices Construction Law

NOVEMBER 6, 2019

The Supreme Court of Vermont recently held that the conditions attached to a contractor’s payment of retainage to a subcontractor violated the state’s Prompt Pay Act. By letter to the subcontractor, the contractor refused to pay the additional monies. ” The contractor did not reply. In J&K Tile Company v.

Vermont 54

Vermont Lien Claims Negotiation 54

Best Practices Construction Law

NOVEMBER 21, 2019

As you may be aware, one of the greatest risks on a construction project involves the payment process. Just like my kids expect to be paid for the lemonade they sell, contractors and subcontractors expect to be paid on a timely basis once the work has been performed. Courts across the country vary in their treatment of these issues.

Contract 77

Contract Subcontracting Drafting Virginia 77

NH Construction Law

OCTOBER 22, 2023

It happens this way: A contractor or subcontractor borrows money from a lender, and as security for the loan it gives the lender an assignment of or lien on its receivables and contract rights. Payment should be in the full amount currently owed to the contractor, regardless of how much is still owed on the contractor’s loan.

Security 40

Security Contract Accounting Construction 40

Construction Lawyer

MAY 21, 2009

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. In other words, you use the stuff we post here at your own risk. Subcontractors Mechanics lien allowed where bank seized generals funds.

Lien 40

Lien Illinois AIA Chicago 40

Construction Dive

DECEMBER 30, 2015

If a price is unrealistically low, there is a significant risk that the contractor will perform deficient work and/or fail to complete the project. Featured … Small Business Could Not Be Excluded for Unrealistic PriceEngineer Can Lien without Physical Improvement to Property

Lien 48

Lien Bidding Deals Risk 48

Construction Lawyer

APRIL 20, 2009

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. In other words, you use the stuff we post here at your own risk. Idle Equipment not entitled to Lien in Missouri. Categories.

Lien 40

Lien Missouri Equipment Illinois 40

NH Construction Law

APRIL 26, 2018

Sometimes this unanticipated time/space compression is the owner’s fault, in which case the general contractor/construction manager and its subcontractors will likely be entitled to increased compensation by change order or otherwise -- and to a mechanic’s lien if that increase is not paid. See Town of Bedford v.

Lien 40

Lien Compensation Change Orders Subcontracting 40

Levelset

AUGUST 15, 2022

In fact, many contractors and credit managers alike may come up against a number of challenges when it comes to figuring out a business’ creditworthiness. Ask the contractor for evidence. Deep dive: Prequalification – How to Avoid Bad Contractors, Subs, and Suppliers Before They Become Your Problem. Thea Dudley. View profile.

Construction 52

Construction Lien Contractors Management 52

Construction Lawyer

APRIL 30, 2012

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. In other words, you use the stuff we post here at your own risk. April 30, 2012 in litigation , mechanics liens | Permalink.

New York 40

New York Lien Contractors Illinois 40

HardHatChat

FEBRUARY 9, 2010

But before you take on the role of receiver, here are five questions you must address with your general commercial construction contractor before assuming receivership of a distressed property. Cross your fingers they were, otherwise you might run the risk of extra fees.

Commercial 168

Commercial Construction Lien Deals 168

Lets Build

MAY 11, 2020

The study points out that even if companies have policies in place to deal with such risks, they are not activated until it is too late. Organisations tend to not take the risks seriously until they manifest fully. As many contractors face several disruptions and delays, they may be unable to fulfill their end of the contract.

Industrial 178

Industrial Construction Conference Compensation 178

Construction Law Monitor

JUNE 6, 2013

Sometimes, for unfortunate reasons, this time of the year and leading into the late fall and early winter can see a spike in the need for contractors and subcontractors. More unfortunate still is that when we see this spike in demand, we sometimes read or hear about the negative, and instances of “contractor fraud.”

Contractors 62

Contractors Louisiana Bidding Guidelines 62

Construction Cost Estimating

MAY 19, 2012

Enhance your estimating process with Sage 100 Contractor. Sage, a trust worthy supplier of accounting and business management software , launched Sage 100 Contractor. Sage 100 Contractor contains more improved service management, vendor, reporting and other capacities to augment the effectiveness of the users. adsense analytic.

Sage 45

Sage Estimating Contractors Accounting 45

Levelset

APRIL 8, 2022

Restoration contractors often work on a property after damage from a storm, fire, or other natural disaster. Knowing what to expect from insurers gives you some leverage as a contractor, and can help you protect your business against financial risk on restoration projects. Is restoration work covered by the policy?

Insurance 52

Insurance Claims Agreement Lien 52

Levelset

APRIL 8, 2022

Restoration contractors often work on a property after damage from a storm, fire, or other natural disaster. Knowing what to expect from insurers gives you some leverage as a contractor, and can help you protect your business against financial risk on restoration projects. . Is restoration work covered by the policy?

Insurance 52

Insurance Claims Agreement Lien 52

Construction Lawyer

MAY 13, 2009

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. In other words, you use the stuff we post here at your own risk. Risks in LEED design. mechanics liens. Categories.

Risk 40

Risk Design Illinois AIA 40