Remove Lien Remove Profitability Remove Subcontracting
article thumbnail

Texas ‘Retainage’ vs. ‘Reserved Funds’: What’s the Difference & Why it Matters

Levelset

Given the slim profit margins on construction projects, retainage practices can be incredibly frustrating for contractors. Texas lien law: ‘Retainage’ or ‘reserved funds’? The main changes came in the form of simplified notice procedures and lien filing deadlines. Lien for unpaid retainage.

Texas 52
article thumbnail

N.C. Construction Law, Policy and News blog: Worthy insights regardless of where you live

Construction Marketing Ideas

Buy out subcontracts thoughtfully. In North Carolina, that means filing a Notice to Lien Agent as your work begins, informing suppliers of the identity of the lien agent, guarding against double payment liability through the Notice of Contract procedure, and enforcing your lien rights timely, when necessary.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

#66:  Labor Inefficiency Costs: Who Pays? How Much?

NH Construction Law

Sometimes this unanticipated time/space compression is the owner’s fault, in which case the general contractor/construction manager and its subcontractors will likely be entitled to increased compensation by change order or otherwise -- and to a mechanic’s lien if that increase is not paid. But how is that sum calculated?

Lien 40
article thumbnail

Subcontractor Default Insurance: Pros & Cons for General Contractors

Levelset

In addition, SubGuard does not provide protection against mechanics liens from unpaid second-tier subs and suppliers. Some GCs pass the cost of the loss reserve onto the project owner and claim that amount as additional profit on the project. Include X amount of additional profit in your bid.”.

article thumbnail

Keep Construction Office & Operations Teams Happy with These ERP & Financial Integrations  

Autodesk Construction Cloud

As a result, the technology tools available often stifled collaboration between these external stakeholders, who had limited access to key budget and profitability information, which makes it very hard to run a successful business. Additionally, third-party stakeholder collaboration (e.g.,

Office 52
article thumbnail

State by State Incentives Guide

Buisness Facilities Contributed Content

The incentive is available for non-retail businesses engaged in commerce for profit that fall into certain categories. Non-Profit Incentives: Provides an incentive payment (payroll rebate) equal to 4% of the payroll of the new, full-time, permanent employees for a period of up to five years. TAX INCENTIVES.

Income 108
article thumbnail

STATE INCENTIVES GUIDE

Buisness Facilities Contributed Content

NON-PROFIT INCENTIVES: Provides an incentive payment (payroll rebate) equal to 4 percent of the payroll of the new, full-time, permanent employees for a period of up to five years. In addition, the non-profit organization must receive 75 percent of its income from out-of-state sources. Grants are also available to qualified, early?stage

Income 75