Remove Income Remove Lien Remove Risk
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3 Ways to Reduce Payment Risk With The New Tariffs And Rising Construction Costs

Levelset

Protect your Lien Rights Protecting your lien rights is one of the most critical steps in protecting your right to payment for what has been delivered to a job site. You may be limited in your ability to recapture that lost income. An increase in construction costs means higher credit risk.

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Restoration: How to Manage Cash Flow While Waiting for an Insurance Check

Levelset

A cash flow statement is an analysis of incoming and outgoing cash for a certain time period (usually one month). Each project you work on has expenses that need to be paid and income that will be received. Protect your lien rights. The right to file a mechanics lien is the most powerful tool in your toolbelt.

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Accounting for Retention Receivable & Payable: A Contractor’s Guide

Levelset

The invoice is recorded in the chart of accounts with a credit to the income account for $100,000, a debit of $90,000 to accounts receivable, and a debit of $10,000 to retention receivable. Debit Credit Income $100,000 Accounts receivable $90,000 Retention receivable $10,000.

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How To Negotiate A Higher Credit Limit With Your Building Material Supplier

Levelset

A standard financial statement package includes four reports: Balance sheet Income statement Cash flow statement Work in progress (WIP) report. Showing them proof of expected income will go a long way to calming their fears. These references give suppliers a historical context to assess their risk. Provide a plan.

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#130:  Secured Lenders' Rights to Construction Contract Payments

NH Construction Law

It happens this way: A contractor or subcontractor borrows money from a lender, and as security for the loan it gives the lender an assignment of or lien on its receivables and contract rights. Otherwise all construction contracts would have such a clause, thwarting the lender’s statutory rights.

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North Dakota Incentives and Workforce Development Guide

Buisness Facilities Contributed Content

Business Development Loan Program: Designed to assist new and existing businesses in obtaining loans that would have a higher degree of risk than would normally be acceptable to a lending institution. Income Tax Exemption: A primary sector or tourism business may qualify for an income tax exemption for up to five years.

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North Dakota Incentives and Workforce Development Guide

Buisness Facilities Contributed Content

Agriculture Partnership in Assisting Community Expansion (Ag PACE): This program has been established to buy down the interest rate on loans to farmers who are investing in other nontraditional agriculture activities to supplement farm income. The total buy down amount per borrower may not exceed $20,000 per project or biennium.