This had the net effect of holding back the Contractor’s entire fee as a guarantee that they would complete the work.
Be sure that when you move into contracting, you have a firm understanding of how your contract is structured.
Everyone from Laborers to Architects have a fundamentally principle duty to ensure everyone on a construction site is safe.
One of the strategies for maximizing the value of capital is to extend payment terms.
Substantial completion is the single most important date of any project.
You can download a PDF version of my ProcureCon presentation here.
Design for Manufacturing and Assembly is a delivery model that could, “change the industry…to build better quality housing on time and at speed.”
ProcureCon Facilities is the only procurement conference dedicated to facilities services. This year they have a jam-packed agenda.
While these stories may be from outside of your region, all of them address the global issue of contractor payments.
Once you have a short list of candidates based on qualifications, (and ONLY then) you can consider price.
Subcontractors like Hardware Direct were being exercised by Ebert right up until the day the announcement was made.
Self-performance does create additional revenue streams for the general contractor and you do need to address this.