Last updated: May 21, 2020
Published: Nov 29, 2017
Reading time: < 1
Recommended for you
Conditional vs. Unconditional Lien Waivers: The Difference & Why It Matters
Unconditional vs. conditional lien waivers: which type of lien waiver should you use on your construction projects and jobs? We...
What Is Underbilling? | Construction Industry Accounting
Underbilling occurs when a contractor does not bill for all the labor and materials delivered in a billing cycle. It...
What Are “Back Charges” in Construction?
Back charges can be tricky if you're not careful! It's incredibly important to prioritize communication and documentation when back charges...
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...
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...
The Ultimate Guide to Retainage in the Construction Industry
The practice of retainage, aka retention, has a tremendous impact on the construction industry. Learn how retainage works on different...
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...
Guide to Alternative Dispute Resolution (ADR) in Construction
With a proper dispute resolution clause in place, contractors, subs, and suppliers can avoid taking their disputes into litigation.