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Once you determine that your contract has a pay-when-paid provision, the next question is, what do you do about it?
If you employ these 10 debt collecting strategies, you’ll likely see your cash flow increase and your frustration level decrease.
As a contractor, you have a 1 in 4 chance that a lawsuit will be filed against you.
There are four very specific disclosures that may be required by the law to be in your construction contract.
Your contract requires written change orders, but for some reason you don't get one in writing. Can you still get paid?
On public jobs, the halfway point is a milestone which, when reached, requires a reduction of retainage from all subsequent payments. Private contracts, on the other hand, treat retainage according to the contract. But nothing prevents you from negotiating a similar reduction at 50% completion.
Most construction projects have a specific time frame, and if completion is delayed, they look to the contract for recourse.
If you have to settle out of court, be sure you cover all your bases.
Contractors who discover construction defects or mistakes in their work face two challenges: ignore them and risk liability, or fix the problems and risk destroying evidence.
What to do when the scope of work changes and the customer disputes your claim for full payment.
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