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Restoration: How to Manage Cash Flow While Waiting for an Insurance Check

Levelset

Even though the insurance company isn’t your customer, the property owner may be depending on that insurance check to pay for your work. Meanwhile, you’re incurring expenses that drain your bank account, like purchasing materials and paying employees. Restoration contractors can spend a lot of time waiting for payment.

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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. After all, the faster the insurance company pays the owner, the quicker you can get paid ! You may feel the urge to step in and help with the adjuster.

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Does GC Insurance Cover Subcontractors?

Levelset

Luckily, that’s what insurance is for, right? Does a general contractor’s insurance cover their subcontractors’ accidents or mistakes? While there isn’t a cut-and-dry answer to these questions, we’ll take a deeper look into insurance coverage and what happens in these situations. Who is covered by an insurance policy?

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7 Things Contractors Need to Know About Retainage

Fieldwire

Or it could mean that a different rate applies to labor and materials. This can help contractors cover up-front costs due for construction materials, where margins are lower. Retainage does not extend the mechanics lien deadline A mechanics lien is perhaps the most powerful tool that contractors have to force payment.

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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. 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. Setting up an AOB.

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Design Build Services Add a Construction Department to Your Team

Wolgast Corporation

He’ll also be evaluating the plans at various stages of design to check for constructability and value engineering (in other words, how the plans will translate during construction or if there are more efficient materials or applications that should be substituted).

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constructionattorneyblog: illinois supplier denied mechanics lien

Construction Lawyer

illinois supplier denied mechanics lien. An Illinois appellate court has affirmed the trial court's summary judgment against a lumber company's mechanics lien. Hillside filed a counterclaim to foreclose its mechanics lien. March 13, 2012 in litigation , mechanics liens | Permalink. mechanics liens.

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