A construction company’s cash flow reflects its overall business state. In many cases, negative cash flow pushes a company not only into financial trouble but into its demise.
Read more
Participating in a project as a federal subcontractor can be very lucrative — but as in any construction contract, you need to thoroughly understand your rights as well as the rules and requirements, especially those that concern your ability to collect and receive timely and complete payments. If you have extensive experience in private contracting, […]
Read more
Contractors are hired by clients for their specific specialties. It can be their ability to put together and run a whole construction project as with general contractors, or it could be for their reputation in more specific areas like plumbing and roofing. But far too often, contractors are forced to play a major part in […]
Read more
When contractors, subcontractors, and materials suppliers don’t get paid, they can file a California mechanics lien. A mechanics lien is a legal claim on the property for unpaid construction work or supplies. Once claimants file a mechanics lien, the owner’s property turns into collateral, allowing claimants to secure the service they rendered or the supplies they provided. […]
Read more
Accounts receivable management is a key cog in the construction industry machine. It’s crucial to understand the challenges in construction AR to be in the best poisition to secure payments on time and in full. How much of your revenue do you write off each year? According to a payment practice study in 2016, businesses […]
Read more
Protecting your right to file a mechanics lien starts with the Preliminary Notice. Filing mechanics liens on delinquent client accounts are part and parcel of a contractor’s Getting Paid Toolbox. As much as we would like for vetting and pre-screening clients to keep late payments at bay, there are so many factors that come into […]
Read more
Getting paid — on time and in full — is vital in running a successful construction business. As a contractor, invoices settled in full and on time pay for materials, services, labor, and subcontractors used to satisfy the contract. Equally important, timely payments give the liquidity to continue taking on new jobs. Then again, it remains […]
Read more