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Construction Accounting Questions
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Construction Accounting
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I hired a GC to renovate my house. I believe he’s misappropriated close to $80,000 (overpaid himself, outrageous change order fees despite the fee amount not being disclosed in the contract). As a commercial contractor myself, I have reviewed the invoices that he reluctantly gave me, and noticed far too many discrepancies.
The construction contract includes an arbitration clause, however, should I still hire an attorney?
South CarolinaI had a drainage system put in my basement. And I financed the job. However, the finance company released the payment to the contractor before I signed any type of paperwork stating the job had been completed to my satisfaction.
All they did was leave a voicemail saying they were going to release the money and released it before I heard the message.
I am still getting some water that the contractor is working on. My concern is the clock on my 6 months 0% financing has started before the job is truly complete.
I was under the impression the finance company needed a signed release of job completion.
West VirginiaHi,
I am a 20-year-old contractor who cannot get a b-class license because of my age,
my grandfather however has a sole propriety license and is willing to convert it to an LLC.
Can I act as one of the owners while using his license if he does so?
thanks
CaliforniaHow project manager can minimise the financial impact of their construction projects due to Covid 19 outbreak?
AlaskaI'm a contractor who agreed thru a contract to install foundation for a homeowner, I found out that he originally placed me as the general contractor on his permit. I never gave him permission to sign my name at the county building department. So yesterday he fired me saying I was taking to long...
OregonI work for an excavation company. We don't use Levelset at the company I currently work for. The company that I used to work for used Levelset, and it was very helpful. Recently, I took over the billing at the company I currently work for and noticed that there are more than a few jobs that have unpaid invoices dating as far back as 2016. Our contract is fairly basic regarding client invoicing and payment, basically we will submit invoices every (30) days, client shall pay invoices in full within (30) days, If client fails to pay we may give (10) notice to client to secure the default, if they fail to do so, we can stop work. I would like to attempt to collect on some of these old invoices. Do I have any recourse, if so, what steps would I have to take in order to do so? Thank you in advance.
CaliforniaCan the officer of a construction company enforce a mechanic's lien which was properly recorded in the county in which the property is situated if (1) the lien was recorded with the individual officer's name listed on the lien as the claimant, rather than the construction company itself which performed the work, and (2) the individual officer listed is NOT the RMO associated with the company's license, but they ARE listed as "personnel associated" with the company's license on CSLB's wesbite?
CaliforniaI have two questions both using an AIA cost plus contract with a guarrenteed maximum price.
What documents would you normally expect to be in a final accounting? Down to drayage tickets and certified payrolls?
The General Contractor has a contingency in the schedule of values. If not used, the contingency fund belongs to the owner. The General Contractor has tried to use Change Orders and charge the amount of the Contingency, without prior notice and without approval of the Owner. I thought you could not use a change order against the contingency
AlabamaAn (Oregon) contractor did work on our house 5 or 6 years ago. As far as we know, we've paid everything he's billed us for. When he was doing the work, he presented us with an invoice monthly, and we paid him on the spot. I think all in all we ended up paying him about $70k. There may have been a few times that he came back to finish up a small detail or revise something we weren't happy with. Small things. We never received an invoice for these things.
Shortly after that, we had a few small items we asked him to take care of for us. We asked over and over for him to give us an invoice. It seemed like he had problems hanging on to a bookkeeper so he would just say "I will", but never did. Since then everytime he's come to do any work for him, we paid him cash before he left. We didn't want his fees to pile up. We asked him to send us an invoice for the work and the payment everytime, but he never did.
My sister had him hang some doors 2 years ago. She paid him. However, that got me to wondering what we would do if he presented us with a bill?
How many years are we on the hook to him if he comes knocking with an invoice for work he did so long ago?
Thank you!
OregonI’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
Californiafrom The 5 Main Types of Contracts in Construction
What are the construction contracts that obligate the contractor to own the money before signing the contract?
, And what are the contracts that obligate the owner to own the money before signing the contract?
I hope I formulated the question well
FloridaOur crew was working on a residential remodel in mid-June. House value $ 650K. Our remodel contract was for some $ 420K. Large house in bad shape. Crew returned from a half-hour lunch break to see flames coming out of window of the room where they had been working. They responded admirably and used the extinguishers on site to control the fire, and called the local fire dept, who responded quickly and was able to put the fire out within an hour or so. Damage was contained to one room, as a result. Our insurance carrier and the homeowners' insurance company are still determining liability and damages, etc. Meanwhile, the homeowners have fired us. Not surprising and it's fine with us -- they were a pain. But they owed us about $ 50K at the time of the fire, and now that we've been fired, we feel we should be able to claim our overhead and profit, which makes brings homeowners' total owed to us to some $ 102K. Our contract calls for mediation as the way to resolve any conflicts that arise between us and the homeowner, with the mediator to be an objective third-party construction expert. Homeowners have since hired a sarcastic lawyer who wants us to return every dime the homeowners ever paid us. Impossible as we paid all labor and materials costs to date. Not sure what to do, but don't want them getting out in front of us. Do I file a lien, and if so, for which amount, the $ 50K they owed at the time of the fire or for the full amount of $ 100K ? Or, do I cajole them into mediation, file a suit claiming breach of contract, or.....??? Thank you.
New YorkHow do I file a claim against the General Contractors Liability Insurance when the GC allowed a Non-licensed person rent his GC license leaving a homeowner with negligent, shoddy work when the GC was never on the job and the non-licensed person took $100,000 for work not completed and products not released to us after we paid for them after the non-licensed person walked off the job? This GC, the only Qualifier, which we have never met and he did not oversee our job, he only rented his GC license to this non-qualified person. I thought about trying to find an Adjuster that would specialize in the area of collecting from the General Liability policy.
FloridaI would like to know where on the pay application would you input the rain days
TexasI am a "safety engineer" with a GC. My primary job functions consist of assessing risk with our superintendents and recommending solutions to them. However, I do not have the authority to make policy or change our company policy; I am only permitted to interpret the policies as written. I do not meet the executive, computer, outside sales, or computer exemptions. Is my job considered exempt? My employer has never paid me overtime. What recourse do I have if I am not exempt?
Arizona