Securing mechanics lien rights isn’t just as simple as filing a document — it’s a process. Each state has varying degrees of rules and requirements that must be met. Illinois in particular handles the amounts a subcontractor can file a
Construction Payment Blog
The Construction Payment Blog, published by Levelset, focuses on legal and financial issues related to payment and lien rights in the construction industry. It covers topics such as mechanics liens, lien waivers, preliminary notices, payment bonds, prompt payment laws, and contract provisions affecting payment. The blog provides updates on state and federal legislation impacting construction payments, guides on managing lien rights, and strategies for reducing payment risk. It also addresses practical concerns for subcontractors, suppliers, equipment rental companies, and general contractors, including compliance with deadlines, dispute resolution, and financial risk management in construction projects.
Latest from Construction Payment Blog - Page 8
How To Grow Your HVAC Business: 7 Tips for Contractors
By Daniel Gray
If you’re looking to grow an HVAC business, there’s great news: The demand for heating, ventilation, and air conditioning is growing quickly. Fortune Business Insights notes that the HVAC sector is expected to grow by $20 billion this decade. Also,…
7 Ways To Grow Your HVAC Business in 2022
By Daniel Gray
If you’re looking to grow an HVAC business, there’s great news: The demand for heating, ventilation, and air conditioning is growing quickly. Fortune Business Insights notes that the HVAC sector is expected to grow by $20 billion this decade. Also,…
How to Get Paid on New Jersey Public Projects
By Isaac Barzso
The federal government is allocating over a trillion dollars in funding for public infrastructure construction projects over the course of the next decade. A large amount of that funding is going to go directly to individual states, and with the…
How to Deal with Extended Lead Times and High Material Costs
By Dacia Idom
Inflation is more than a buzzword for specialty contractors.
Construction material costs are rising along with high fuel prices, affecting lead times and project success. Contractors report that supply chain disruptions impact inventory and their ability to forecast for…
New York Home Improvement Contracts: What Residential Contractors Need to Include
In the State of New York, contractors working on certain residential projects need to have a good understanding of the NY Home Improvement Contracts Act. Under these statutes, on certain protected projects, there are a fair amount of rules and…
Residential and Commercial Construction: 7 Crucial Differences
Construction businesses that are looking to thrive would do well to pay close attention to the differences between residential and commercial construction projects. It’s common for companies to specialize in one type of construction—and companies that do both residential and…
Accounting for Retention Receivable & Payable: A Contractor’s Guide
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…
How to Get Paid on Washington State Public Projects
By Isaac Barzso
The federal government is allocating over a trillion dollars in funding for public infrastructure construction projects over the course of the next decade — and a whole lot of that funding is going to go directly to individual states. Washington…
What is Project Loss Insurance?
Construction contractors face potential loss with each project they take on. When a loss occurs, it can put a real crunch on a contractor’s cash flow. Large losses have the potential to bankrupt a company or cause them to close…