Mechanics liens are among the most powerful tools for contractors to ensure they get paid what they’ve earned on a construction project. In Texas, contractors must send multiple notices and meet strict deadlines to preserve their right to a lien
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Construction Costs: 3 Ways Contractors Can Deal with Rising Prices
Rising costs during a construction project affect not only the project’s profitability — they affect a contractor’s ability to survive. Economic growth already strains a construction company’s cash flow, and increasing costs only make it worse. Contractors must manage
The Utah Preconstruction Lien Process Explained
Many Utah contractors are familiar with the construction lien process to secure payment for work or materials used in a building project. But what about the surveyors, architects, engineers, and others who provide services before breaking ground on the project?
Restoration: How to Manage Cash Flow While Waiting for an Insurance Check
Restoration contractors can spend a lot of time waiting for payment. 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
Understanding the Performance and Monitoring Phase of Construction
Undertaking a large construction project is exciting, but it can also be overwhelming. Instead of looking at the project as one big job, it’s possible to break almost every project down into individual phases of construction. Every project involves
The High Cost of Low Bids: When Contractors Compete on Price, Everyone Loses
Prioritizing a low bid over contractor performance is a lose-lose procurement strategy. Unfortunately, low bidding is an accepted practice for both owners and contractors alike. Owners will say that focusing on the lowest bid possible ensures they get a good
Project Labor Agreements (PLAs): What Contractors Need to Know
In early February 2022, President Biden signed an executive order requiring project labor agreements (PLAs) on all federal projects over $35 million. This means contractors working on eligible projects should expect to pay more in labor and benefits and may
Prevailing Wages in Minnesota: What Contractors Should Know
In Minnesota, prevailing wage laws apply to state-funded projects over $2,500 with one trade or over $25,000 with more than one trade. There are separate rates for highway/heavy construction and building construction. Penalties for not paying the correct rate include
Prevailing Wages in Pennsylvania: What Contractors Need to Know
On construction projects where prevailing wage laws apply, it’s important to abide by those rules. In Pennsylvania, publicly funded projects over $25,000 in costs are subject to prevailing wage requirements. Let’s explore Pennsylvania’s prevailing wage laws, how and when they
Design & Development: Understanding the First Phase of a Construction Project
From the time that a construction project goes from an idea to a finished building, it has to go through several phases. Each phase has its purpose and is just as important as the next. One of these stages,