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Many construction contracts are written so that the owner will pay for labor and materials by way of joint checks. In the typical scenario, a contractor will submit a payment application itemizing work performed by various subcontractors during that month’s payment...
Getting into a business partnership can be an exciting undertaking for any entrepreneur. If you get it right, a partnership can help the parties bring their resources and talents together, expand their production and market base and grow their bottom line. But what...
Now may be one of the best times to start a business as entrepreneurialism is skyrocketing. As entrepreneurship grows, so do the myths that stop people from starting their dream businesses. There are too many myths about owning a business to cover in one post, but...
The Arizona Prompt Payment statute requires a contractor to pay “within seven days of receipt by the contractor or subcontractor of each progress payment or final payment, the full amount received for such subcontractor’s work and materials supplied based on work...
Disagreements are inevitable in any partnership. Even minor conflicts that are left unaddressed can escalate into full-blown disputes with costly financial and legal implications. Besides outlining each party’s rights and responsibilities, a thoughtfully written...
Even if a business is successful, it may be time to let it go if it is no longer part of one’s priorities. If you are a partner who wants to sell their business shares, it is important to draft a buy-sell agreement that would benefit and protect all parties. Some...
You have reached the end of a project and you submit your final payment request. Instead of just paying you the amount you have invoiced, the general contractor tries to lowball you. Maybe he claims he doesn’t have to pay you any retention until he is paid retention...
Positive word of mouth is important for construction companies. Most clients will start their search by talking to people they know and trust rather than doing an online search. If you want paying clients and good jobs, you need to protect your company against claims...
When starting a business, you have many options to find success. For instance, you could form a business partnership. A business partner could be someone who shares your ambition and helps your business grow to its full potential. While that may not be enough of a...
Almost all jobs in the construction industry begin with an estimate for the work to be done. The client then decides if they will hire you or another contractor. If you are hired, you should have a contract ready for your client to sign. The purpose of a construction...