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I am a home owner with extra land and want to build ADU’s. I need to get a construction loan. I need to know about starting a single person LLC better before or after trying to get approved for the loan. ...Read More
Anonymous Contractor
Waiting for answerAdd commentFeb 23, 2022
CaliforniaCash FlowConstruction AccountingConstruction ContractCredit ManagementFactoringPay When Paid
I am an HVAC subcontractor working on a big project. I have filed a mechanics lien because of non-payment. 2 of my payment applications were not paid in full, but I was told by the project manager that the bank agreed to work in place 100%. I never received notice that my payment application wasn't being paid in full. This was only found out once I received the check. Is there a way for me to find out if the bank paid 100% of the HVAC SOV during the concerned payment cycle?...Read More
Anonymous Contractor
Waiting for answerAdd commentJun 9, 2022
PennsylvaniaCash Flow
Good day. Can you send me a sample of an introductory text when sending a remodel quote to a client where it also contains the structure of term payments? ...Read More
Anonymous Contractor
1 answerAdd commentJan 18, 2023
MarylandCash Flow
Is 60% up front, 40% at finish seem reasonable for a complete kitchen remodel for material and install ...Read More
Anonymous Contractor
1 answerAdd commentJul 11, 2020
South CarolinaCash FlowConstruction ContractCredit Management
Hello, How long can a company wait to charge my credit card after a project was completed??? I hired a company to install a fence in my yard. They required 50% for a deposit and the other 50% on completion. The company installed my fence early November 2022 and never charged my card again or contacted me again for payment. I have anxiously checking my account everyday to see if they have charged me, and I’m wondering if there is a time limit they can go back and do that?...Read More
Anonymous Contractor
1 answerAdd commentJan 15, 2023
IllinoisCash Flow
Just wondering. What protects the company that offers the funding ? If they don't have lien rights, what protects them?...Read More
Anonymous Contractor
1 answerAdd commentOct 27, 2022
New YorkCash Flow
It has always been after four progress payments, the final payment would be after City Inspectors sign-off and home owner inspection that the job was completed. Recently the GC requested a final payment after stating electrical was completed and the City Inspector signed-off the electrical, but the owner inspection found the electrical was not completed. Bare hot wires where outlets should have been installed and a circuit breaker that will not re-set, not powering the master bath or bedroom outlets. The GC is refusing to complete and/or correct the electrical or any other work until the final payment is made and is threatening legal action with a lien. Am I obligated to make this final payment with only the City Inspectors sign-off instead of making the final payment when the electrical is actually completed?...Read More
Anonymous Contractor
5 answersAdd commentDec 15, 2022
CaliforniaCash FlowPay ApplicationsPayment Disputes
Good Morning. I own a plumbing company in CA. We have been in business since 91'. We have been going through some major growth recently. I am currently bidding a project that cost wise, is much larger then we have ever done. In the contract payment terms, would it be normal for us to ask for 15% down from the GD as a initial deposit to get this project off the ground?...Read More
Anonymous Contractor
2 answersAdd commentNov 29, 2022
CaliforniaCash Flow
We still have not been paid on this job. Finished over a year ago. Looking for advice/action...Read More
Anonymous Sub-Subcontractor
3 answersAdd commentDec 29, 2020
GeorgiaCash FlowCollectionsCredit ManagementPayment Disputes
When dealing with an owner who has a hard money loan who refuses to give a deposit on a $130,000 job that has a deadline in 4 months how many payments should I require. These payments would be upon completion of certain portions of the project. They also tried to get me to sign a lien waiver that stated I had been paid and post dated till due date of project. Needless to say I’m not trusting them and want to cover my but as best I can....Read More
Anonymous Contractor
1 answerAdd commentOct 20, 2021
WashingtonCash FlowPay Applications
I’ve searched different websites and still can’t find an answer. I’m a California general contractor and a subcontractor (cabinet maker) is asking for a 10% deposit ($10k) and wants progress payments while they are fabricating the cabinets. Since I, as a GC, can’t ask for progress payments without materials on the jobsite, can a subcontractor? Thanks in advance! John Rising 415-342-3066...Read More
Anonymous General Contractor
1 answerAdd commentOct 5, 2020
CaliforniaCash FlowConstruction AccountingPayment Disputes
Looking for ways to fund large material deposits to suppliers as an owner/developer/contractor. Contact me @ scott.stiglich@stiglichassociatesllc.com...Read More
Anonymous Contractor
Waiting for answerAdd commentAug 18, 2022
FloridaCash Flow
I have a question regarding the Prime's delay in submitting a subcontractor's invoices to a vendor for payment. My business provided work for a Prime contractor. They are now rejecting invoices that are over 1 year old, even though we submitted these invoices in a timely fashion. Is there any requirement for a Prime to submit all invoices for service provided within a certain time frame? Or can a Prime hold onto a subcontractor's invoices, without submitting them to the state, for an indefinite period of time? TIA...Read More
Anonymous Contractor
3 answersAdd commentAug 3, 2022
IllinoisBond ClaimsCash FlowConstruction ContractLien on FundsLien WaiversMechanics LienMiller ActPay ApplicationsPay When PaidPreliminary NoticePrompt PaymentRetainageSlow Payment
if the owner sells his building before the retainage is due, does he have to give me the full amount of retainage at the point of sale? AIA 101- 2007 and GC's A201-2007 edgetci@gmail.com there are no liens available in my area...Read More
Anonymous Contractor
1 answerAdd commentSep 2, 2020
FloridaCash Flow
Hi there, The question says it all. We are a new water restoration company in Florida and we are trying to find the best path to getting paid faster. I understand that the Assignment of Benefits is one option for us. I also understand that lien rights are important. Under what situations should I use lien rights? When should I use Assignment of Benefits? Thank you for your help....Read More
Anonymous Contractor
1 answerAdd commentAug 11, 2020
FloridaCash Flow