If you do not add a provision to any contract you sign that allows you to recover any increase in material costs or extra time for any material shortage, you are basically signing a GMP contract. A GMP contract shifts the risk of increased material costs and an extended completion date onto the contractor. Signing a GMP contract right now would be very dangerous for your company because you would have to eat any increased costs.
Employment documentation is extremely preventive, so having the appropriate documents prepared and keeping them up to date can ensure your business is much safer overall.
The best practice for non-compete clauses is to speak with an employment law attorney that knows your business and can effectively create restrictive covenants. Doing so will save your business both time and money while legally giving you the maximum protection allowed under the law.
Understanding the full ramifications of neglecting employment law, and misclassifying your workers, is a necessary skill to fully comprehend in order to protect your business.
Running a business is no simple endeavor, and the challenges that are a part of navigating employment law, especially, seem to be endless. This blog series covers the most integral points of employment law that every business owner should be aware of. In this blog, we’ll address common misconceptions about classifying employees as well as how to do it correctly.
As a Material Supplier in the construction industry, you have such great leverage to secure any amount you are owed with a lien. But what is a lien? A lien gives you a claim to ownership in the property where your materials were used, to the extent of the value of the materials you supplied.
Material Suppliers take an enormous amount of risk when supplying material on credit in the construction industry. This blog series is all about how to reduce that risk.
A termination for convenience clause allows the general contractor to terminate your subcontract without any notice. If your subcontract contains a termination for convenience clause, it may need some heavier editing before you sign the subcontract.
Trust funds help you get paid, but as you’ll see, they also set rules that you must follow. In either case, it pays to understand how they work and how you can use them to your advantage.
If you’re uncomfortable with risking your personal assets, you should be. You should never sign a personal guarantee. Too much can go wrong, and it will be your entire financial life on the line, not just your company.
Make us your first line of defense. Not your last resort.
