Remember: Whatever you sign in a subcontract will be used against you. This blog covers three critical topics every subcontractor needs to understand before signing the next subcontract: subcontract documents, personal guarantees, and retainage.
Delay damages can quickly eat away at any expected profit on a project; it is crucial to avoid them at all costs. When preparing your bids for a new construction project, be realistic from the start. There is a lot of strategy and importance involved in placing an honest proposal. Understanding your construction bid and how it could affect your liability on a project down the road is crucial.
Most construction contracts have a schedule for the progress of the work. Along with a schedule, most construction contracts will include a financial punishment for failing to complete your work on time. This penalty is known as a delay damage.
Most subcontractors think when they get terminated on a construction job that their responsibility to the project ends there. But that may not be the case.
Understanding how defaults and terminations work as referenced in a subcontract is essential to your company’s success.
If you do not document everything and read certain provisions carefully, you could end up being sued or liable for payment for damages for work that were not even your responsibility. This is why you should be concerned with prior work: the work of the subcontractors before you.
Knowing your scope of work and your field conditions is so important when signing onto a new job. Make sure you are aware of all the specific terms in your subcontract and survey the site before agreeing to anything. If you don’t, you might find yourself incurring expensive litigation costs to fight disputes after the fact. Our latest blog will break down what field conditions are and what you should be on the lookout for to C.Y.A. on all your future projects.
Understanding how the bonding process works can help subcontractors win profitable bids and secure their right to payment.
In this article, we delve into how daily reports are used and how you could be in breach of contract.
In this blog, we’ll examine three common questions related to construction change orders. Our most important advice when it comes to change orders: document everything and be detailed about it!
Make us your first line of defense. Not your last resort.
