Recommended for you
Lien Waiver vs. Lien Release: What’s the Difference?
Lien waivers and lien releases are completely different documents (even though they are often confused by the construction industry). Read...
Do I Have to Sign a Lien Waiver to Get Paid?
Lien waivers are an important part of optimizing construction payment. Property owners and GCs rely on waivers to manage the...
Construction Contracts: Pros and Cons of a Cost-Plus Contract
What is a cost-plus contract and how is it used in the construction industry? This type of contract is also...
What is Overbilling? | Construction Industry Accounting
Overbilling occurs when a contractor bills for contracted labor and materials prior to that work actually being completed. For example,...
What Is a Work in Progress Schedule? | Construction Accounting
The Work In Progress (WIP) schedule is an accounting schedule that's a component of a company's balance sheet. It's calculated...
Construction Contracts: What Does “Workmanlike Manner” Mean?
Just about every construction contract will require that work be done in a "workmanlike manner." But what exactly does that...
Construction Punch Lists Explained
Punch list work might seem minor, but it has an improportionate impact on payment. Without getting punch work out of...
6 Construction Project Delivery Methods Compared
The steps required in a project’s journey to completion are importation to how successful the project will be. That’s why...