Contractors Insurance Lien 
Levelset
MARCH 31, 2022
As a contractor, you rely on the property owner to pay you for your work and materials. In turn, the owner is relying on the insurance company to pay their claim. After all, the faster the insurance company pays the owner, the quicker you can get paid ! As a restoration contractor, you work for the property owner.
Levelset
MARCH 21, 2022
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. Contractors need to ensure that owners know that they are financially responsible for mitigation and restoration costs.
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Construction Marketing
JULY 11, 2022
If you want to be a contractor, being licensed and bonded will have a major impact on your ability to work in the city and state where you live and work. Many state and local governments require that contractors who perform work above a threshold amount obtain licenses. What Are Surety Bonds? Bond Types.
Levelset
OCTOBER 19, 2022
However, before starting work on a building financed with a construction-to-permanent loan, both property owners and contractors need to understand the risks. Contractor risks with a construction-to-permanent loan. These risks should be a non-issue when contractors have a comprehensive risk management plan in place.
Viewpoint Construction Technology
MAY 15, 2018
These days, many contractors are faced with managing larger, more complex projects on a regular basis. Contractors have to pay attention to budgets, deadlines, collaborators, change orders, progress reports, payroll, safety, compliance requirements and much more. Insurance and bonding requirements. Lien requirements.
Fieldwire
AUGUST 14, 2023
Construction is one of the hardest industries to manage cash flow in, with contractors often facing large up-front costs and frequent, long delays between expenses and payment. The basics of retainage Retainage, also called retention, is an amount withheld from the contractor until a later date.
Levelset
APRIL 28, 2022
In recent years, inflation, supply chain issues, and labor shortages have only increased the likelihood of project delays, performance issues, and contractor default. While general contractors commonly use performance bonds to reduce the risk of default, a bond ultimately protects the property owner, not the GC.
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