Last updated: May 21, 2020
Published: Nov 29, 2017
Reading time: < 1
Recommended for you
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...
What Is a Notice of Commencement? Your Guide with Form Downloads
Typically, the filing of a notice of commencement by the property owner or other top-of-chain party affects preliminary notice and...
The Ultimate Guide to Lien Waivers in Construction
What are lien waivers in construction? This article is the ultimate guide for construction lien waivers including essential information and...
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.
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 Construction Schedule of Values? [Free Template Download]
A Schedule of Values is an essential tool used in construction project accounting that represents a start-to-finish list of work...
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...