Don’t Be a Casualty of the COVID-19 Recession
Understanding cash needs, making cuts for efficiency, focusing on the best projects and protecting lien and bond claim rights can help contractors fend off the recession’s
How to Minimize Retainage Risk
Minimize risk of losing retainage on a project by understanding what it is, how to proactively protect retainage payments, negotiation tactics, and how to recover
Risk-Shifting Tactics for Construction Contracts
By understanding different contractual tactics, contractors can shift financial risk to other parties. Read the contract, get legal assistance and champion open
Three Mistakes That Lose Money and Slow Payment—And How to Avoid Them
Three mistakes that increase financial risk and kill construction company finances are not sending or requesting payment notice, overly complex paperwork and failure
Assignment of Benefits Agreements Are Subject to New Legislation
When emergency repairs are required, an assignment of benefits lets contractors perform work and file a claim directly with the insurance company. Some states have
Don’t Surprise the Surety: Streamline Payment on Bond Claims
Subcontractors filing a payment bond should make sure the surety knows that a claim has been made and work with the surety and the GC to resolve the claim prior
Understanding and Mitigating the Risk of Construction Participant Failure
There are many ways that companies can avoid risks associated with subcontractor failure. Understanding the “why” instead of focusing on the symptoms can help
Construction Accounting Risk at Macro and Project Levels
Construction accounting is difficult on both a weekly project basis and a company-wide business reporting level, but proper application of best practices can smooth
Protections From the Failure of Other Contractors: Maintain Security Rights
Failure by any project participant can be felt up and down the payment chain and extend to other projects. For protection against other parties’ failures, always
How to Get the Most From a Mechanics Lien Claim
Mechanics liens provide protection against nonpayment, but contractors should be aware of steps to take after filing a lien to assure and expedite payment.
Pursuing Business With ‘Risky’ Accounts
Companies that are reluctant to extend credit due to a limited appetite for risk are likely evaluating the problem without considering the factors in their favor.