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For many contractors, disaster strikes when late payments fudge up business cash flow, causing delays in project progress. How can you avoid late construction payments that jam up your cash flow and cause project delays? Here we'll discuss best practices contractors can use to avoid payment delays and keep projects running smoothly.

Construction is one of the industries steadfastly holding on to checks. If letting go of this paper-based paper format gives you anxiety, have no fear. This article will outline some of the best alternatives to checks for construction companies in America to make your accounting easier and your payments faster and cheaper.

Leveraging project data is critical to assess profitability, but reconciling expenses can be time-consuming and labor-intensive, especially for businesses in the construction industry. With 魅影社区Cards, you can sidestep a lot of the administrative time and guesswork out of reconciling and assigning your construction expenses while taking advantage of all the benefits of a regular credit card.

There are a lot of risks inherent in construction projects. Contracts help minimize risks by expressly naming responsibility for costs resulting from unexpected circumstances. Back charges are an example of a contract clause that can reduce risks for owners and general contractors by charging contractors for added costs resulting from poor quality work, property damage, or negligence.

Many contractors will run into waivers in their construction careers, either as a clause of their contract agreement or as a condition of payment for services rendered. Despite their prevalence, lien waivers are often misunderstood, and contractors may sign them without a lot of regard as to the power they may carry.

Contracting companies regularly send and receive large sums of money in and out of their accounts. Increased collaboration between stakeholders on a construction job means a lot of shared data. Just like other industries that transfer a lot of money and information back and forth, construction is vulnerable to cyber security threats.