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How to Manage Compliance for Construction Success

Viewpoint Construction Technology

Common regulations in the construction industry include: Contractual agreements between owners, contractors and subcontractors. Insurance and bonding requirements. Wage and union payroll agreements. Lien requirements. Building codes , insurance requirements and bonding requirements can vary by location, though.

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Mayer Building Company for Subcontractors: Payment Guide & Resources

Levelset

Taking a closer look at the terms of a typical contract will provide you with important information about insurance, safety, dispute resolution, and more. Digging deeper into company processes for payment, change orders, lien waivers, and more will give you a sense of what to expect while working with them. . Progress payments.

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Don’t Settle Your Construction Dispute Without Checking with the (Insurance) Man

Best Practices Construction Law

Well, in a recent construction dispute in Maryland, “the Man” was the owner’s insurance company. The contract required Gaylor to purchase and maintain an Owner Controlled Insurance Program (“OCIP”). The Contractor did not notify the insurance carrier of the dispute prior to settlement.

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How a Construction-to-Permanent Loan Impacts Contractors & Lenders

Levelset

Cost-plus agreements raise the chance of default. These agreements are lawful, but may be detrimental to a lender’s bottom line. Under a cost-plus agreement, there is little control over spending during construction. Failing to protect lien rights. Information about judgments and liens (i.e., Learn more.

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Common Law Analysis – Pay-if-paid, Pay-when-paid & Liquidating Agreements in Construction Contracts

Construction Law Monitor

Liberty Mutual Insurance Company (“Sloan”), the US Court of Appeals for the Third Circuit has an in depth discussion regarding some technical yet very important clauses found within many construction contracts between general contractor, subcontractors, owner and the surety. Liquidating Agreement. Sloan pg 17. Lawyer, Oct.

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7 Things Contractors Need to Know About Retainage

Fieldwire

It is governed by the contract, which means it’s part of the agreement between two parties. Retainage does not extend the mechanics lien deadline A mechanics lien is perhaps the most powerful tool that contractors have to force payment. Mechanics lien laws have specific deadlines that contractors must follow.

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A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered?

Levelset

On projects like this, property owners typically count on an insurance claim to pay for the work – they may not have cash on hand to pay you out of pocket. Understanding a homeowner’s insurance policy – and what it covers – can be helpful when deciding to take on a project. Understanding homeowner insurance policies.