Using Contractor Payment as Carrot and Stick
As a project owner or manager, you need certain types of information from the contractor to ensure your project is on track. Too often, though, the contractor doesn’t provide the information you need in a timely fashion (if at all). Before you know it, the project can be off schedule and out of budget. How can you avoid getting caught in this situation?
Considering Withholding Contractor Payment? Know the Risks
Most construction contract Owners have been faced with a perceived lack of performance by their contractor, and subsequently been faced with the choice of whether to withhold monthly payment. If the owner is a state or federal government entity, prompt payment laws almost certainly apply. Private contracts are generally exempt from such laws, but not always: states like Vermont have prompt payment laws covering all construction contracts. Check your jurisdiction to confirm.
"What Revision is That?" 3 Tips for Better Document Control
Today’s technology has made communication on construction projects infinitely more convenient than ever before. We have become accustomed to real time information; we receive information about issues and incidents almost instantly, even on our construction projects.
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