Payment Archives

Understanding Additional Insured Endorsements in Construction Contracts 0

By Gary Semmer, AssuredPartners In the construction industry, contracts define relationships, responsibilities, and expectations among contractors, subcontractors, and owners. One of the most important yet often misunderstood elements in these contracts is the Additional Insured (AI) Endorsement, which provides extended insurance coverage and is important in managing risk for all parties involved in a construction

Improving Cash Flow Predictability in 2025 0

By Patrick Hogan, handle.com Cash flow in construction is notoriously unpredictable. Projects start, work progresses, and costs pile up long before payment hits your account. Delays in invoicing, slow approvals, and late payments can leave subcontractors and suppliers scrambling to cover payroll, materials, and other expenses. Without steady cash flow, even the most profitable projects

Streamlining Payment Processes in Construction: Enhancing Efficiency and Transparency 0

By Patrick Hogan, handle.com Construction businesses are acutely aware that streamlining business —particularly payments—can lead to faster transactions and, consequently, better bottom line. This is especially crucial in the construction sector where profits are typically slim and payment processes are notoriously slow. Thankfully, the industry is now actively moving toward electronic payment systems, a vital

How Technology is Transforming Construction Collections 0
- FINANCE, Outlook & Trends, Payment
- December 17, 2024
By Claire Wilson, Siteline The construction industry has a persistent challenge: getting subcontractors paid on time. Sound familiar? Given that only 5% of trade contractors report always getting paid on time—with most waiting an average of 90 days to get paid—delayed payments are an all-too-common frustration. This challenge partially stems from where subcontractors sit in
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How Proper Lien Waiver Management Reduces Payment Claims 0
- Cash Management, Claims, FINANCE, Improving Productivity, Payment, Risk Management
- November 26, 2024
By Patrick Hogan, handle.com Payment disputes are one of the most frustrating roadblocks on any project. They slow down cash flow, create unnecessary tension within the project, and often escalate into formal claims that consume time and resources. Fortunately, many of these disputes are avoidable. Effective lien waiver management—done with clarity and consistency—ensures all parties
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WIP Reports Speak Volumes: What Does Yours Say to a Surety?0
- Documentation, Improving Productivity, Payment, Risk Management
- November 26, 2024
By Merchants Bonding Company A construction company’s work-in-progress (WIP) report speaks volumes about an organization’s competence and financial stability. What should a WIP say, especially to the surety using it to extend surety credit? WHY WIP? For top construction companies, WIP reports are a best practice. Used correctly, they can be a powerful risk managementREAD MORE