Get help with everything you need to know about construction payments.
The American Institute of Architects (AIA) is one of the largest professional organizations in the design and construction industry. They create and sell documents commonly used in construction projects, including contracts, payment...
Retainage is a common payment tactic in the construction industry, where a portion of payment is essentially held hostage until the work is properly finished. Also called retention, it’s primarily...
There are lots of ways to bill for work on a construction project. You can bill at the end of the project, at the beginning, or as you go along....
The construction industry takes a particularly unique approach to getting paid. There are multiple parties involved, a majority of them are working on credit, and the money has to pass...
Although a controversial topic, retainage is commonplace in the construction industry. You can find retainage provisions in almost every modern construction contract. But at the end of the day, that’s...
Changes to the scope of work – the specific work outlined in the contract – happen all the time on construction projects. These can result in either an increase or...
Construction projects each operate differently, and the documents and payment processes are no exception. However, every project generally requires some sort of payment application. Sometimes it can be as simple...
Depending on the size of a construction project, there can be anywhere from five to forty or more subcontractors working, and progress billing, on a job. Of course, everyone may...
Completing a change order correctly minimizes risk, improves the chances of approval, and helps contractors get paid faster. The article contains information on how to fill out a change form,...
For contractors, a good credit management policy goes a long way to reducing the risk of non-payment. It should set guidelines for extending credit, and include a well-written collections policy...
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