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Pay Applications Questions
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Pay Applications
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I need to know how to bid a 208 unit apartment complex labor only sub]-contractors job. It is for the installation and removal of appliances, hardwares, lighting fixtures and wall plates, painting, door handles, toilets, water and drain connectivity, air vents, and blinds. Can you please tell me what is accurate and acceptable as mid-west labor only cpsf or flat pricing, down payments, and legal necessities required?
Michiganhow do I find out what percentage of job was done in contractor project
CaliforniaI was recently told that Home Improvement Contractors (i.e., kitchen remodel) are not allowed to provide a Time & Materials contract - that the contract must be a set price and any changes to the scope of work/price must be covered with a Change Order. I'm looking for the statute or ordinance to confirm that it is not legal/permissible for the Licensed Contractor to issue a T&M contract. Can anyone help?
CaliforniaI 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
IllinoisI'm a subcontractor and our previous accountant skipped Pay Application #2, so the order went from #1-#3 and stayed in ascending order after #3. The GC is also the owner and now denying payment request due to the ordering error. Does this affect our ability to proceed with filing a lien?
UtahGreetings,
On a small construction project, whose scope of work was demolition, a piece of equipment was removed, which apparently shouldn't have been.
We are a subcontractor on the project, and the GC stated that our organization is finanicially responsible for the cost of the piece of equipment. It could be argued that we weren't informed NOT to remove said item, but that is besides the point.
When we requested payment, the GC stated that the project Owner would "let the cost of the controller (piece of equipment" go away," but instead wants a whole new system of equipment installed.
The GC then said the cost for this whole new system of equipment, rather than just one piece of destroyed equipment, exceeds our small contract value. The GC then asked us to revise the original contract value because we will not need to return to finish the project until later this summer.
Long story short, are we responsible for eating the cost of a whole new system? And also, it seems as if the GC is trying to get out of paying us anything (they've paid nothing to date), by then asking us to revise the original contract sum.
I would appreciate any insight, and I apologize for the vagueness of my question; I've tried to use only generalities for the purposes of anonymity.
PennsylvaniaI am being retaliated against by a group of nefarious individuals who place 'unwitting small business owners in a spider's web of unfairly weighted contracts with language intended to tie the hands and feet of unsuspecting businesses if they speak up and speak out when they realize these people are shady, greedy and working a criminal enterprise. Their sole purpose is to fraud the government and they even take the small businesses revenue which is outside of the rules for work percentages between them. I believe that they have done this before, and perhaps the others went along because they don't say much about what they are doing however, if someone like myself speaks up and questions them, they tighten the noose and become vicious in the manner in which they work to retaliate and destroy your small business. At the very least, would you please take a conference call with me and hear my story? I have plenty of emails that will prove my claims because they were written at the time these issues were being raised and argued between myself and the parties in question. I did not agree to fraud the government. Nor did I agree to allow these peoples to enrich themselves using my company. This group consists of a Contracting Officer, a SDVOSB, a Construction Manager, A Bonding Agent, A 3rd Party Escrow Agent (who recently packed up and moved to Florida October 2021), supposedly US Fire & Casualty and Crum & Forster (one of its reps asked me to provide my User ID and Password to a Subcontractor to have access to my WAWF account, which I found disturbing) since I learned we're not supposed to share this information. I just want to understand and receive guidance on what my next steps should be. Thank you.
MarylandBuying a cargo trailer from a guy who after I Zelle pay him $2000 down payment tells me that he gave me the wrong phone number but when I showed him the transaction before sending he says ok yeah that’s it. Now I have no trailer and no one not even Zelle or the banks will help and do not care that my hard earned money is gone. On top of that some one at that phone number now has $2000 and won’t give it back! Think guys might help me?
TexasGood morning Mr David,
Trust this mail meets you well.
I am currently having issues with our external auditors on recognition of revenue in the books of our company that is into real estate development.
Here is the summary, the modus operandi of the business is to buy a virgin land, develop units of flats on the same and sell the same to subscribers.
In the books of the company, deposits made by the subscribers for any ongoing project is recognized as a liability while the development cost on the same is treated as an inventory pending completion of the project.
So, in any financial year that a project is completed, the Subscribers deposit in the SOFP is debited while revenue in the SOPL is credited with the total amount received. Also, the Development cost (as an inventory in the SOFP) is credited while development cost in the SOPL is debited.
At the moment ,we are having difficulty in applying IFRS 15 in recognizing revenue to be reported for the period ended 31st Dec 2021 because the projects are still ongoing.
The following are my questions:
Is IFRS 15 applicable in this scenario.
If yes, how best can we resolve this?
If No, what other options are available for us to be able to recognize revenue without violating the standard.
I will appreciate your prompt response and professional advice on this .
Regards
Sunday Babajide
Washington DCI am reviewing Best practice for tracking expenses related to unforeseen conditions, including Change Orders, schedule, and representation of costs on progress Payment Applications. Especially from Architect/QA standpoint.
FloridaWe are a steel manufacturing company and are picking up our first few construction jobs. With the pay app, does it need to be the project manager, the account handler, the shop foremen, the vendor manager etc who signs the payapp? We are a Texas company, and all work is currently in Texas.
TexasI am a subcontractor. I have signed all the proper forms of release to get payment. I haven't received my money. The other contractors have. now I'm being told the prelim was done wrong after I have signed everything and that is nothing they can do for me on some of these jobs. There is another GC I need to file a lien on before I can't that money either. What do I need to do to take the proper steps to get my money? please help
CaliforniaI’m being forced to pay project manager under the table for work received and when I finally confronted him I stopped receiving work and been waiting on final payment Homevestors franchisee
LouisianaMy project description was Driver way, patio (work around the septic tank) and main door porch stairs, he delay the work for permits process to the point the Company issued my bricks for other project & delay for another 2months. The City hall claims that I only ask the permit for the driveway, reasons why not inspections where done for the patio and stairs considering that it was cosmetic. Though I paid almost $2.000 on Septic tank engineer & underground survey, if it was cosmetic and not inspections necessary? I questioned the City Hall boss on 3/17/2022. He is going to review the whole permit as per my questioner & aggrievance, of my not having any thing on the orange card records inspections for me to pay the final payment 75% $12.422. Despite that I am waiting to get those document the contract started to count the 10 days of the termination of the project. My question is if I have to pay for legally advice or I need the entity where I could deposit my check for the final payment so the contract will deal with him, because he very bad to extortion me. I am a 66 years old lady alone and I am scare to be with him alone and to make sure to get from him the waivers. He did a lot of tricks to the MSV and me, I don't trust him.
FloridaDoes a contractor's final retainage release payment application need to be signed by the A/E on the project?
Massachusetts