ASA Supports the Small Business Payment for Performance Act of 2023
The American Subcontractors Association (ASA) commends Construction Procurement Caucus (CPC) Co-Chairs, Stauber (R-MN) and Peters (D-CA) as well as Reps. Veasey (D-TX) and Fitzpatrick (R-PA) for the introduction of the ‘‘Small Business Payment for Performance Act of 2023.’’ This critical legislation lessens the considerable financing burden placed on small construction businesses when federal project owners make unilateral changes to construction contracts. By requiring federal project owners to make interim partial payments on owner-directed change orders, small construction businesses receive necessary and timely cash flow for performance. As the construction industry continues to face uncertain and variable market conditions, including supply disruptions and increasing materials prices, all construction businesses, but particularly small construction businesses, need federal payment practices that are not unfairly burdensome. Passage of this legislation will ensure that small construction businesses performing on federal contracts have confidence that equitable payment practices exist for owner-directed change orders. Thank you CPC Co-Chairs Stauber and Peters and Reps. Veasey and Fitzpatrick for recognizing this significant issue and introducing this important procurement reform.
Wednesday, April 26th at 2:00 pm ET
To GMP or Not to GMP: Cost of Work Best Practices for Agreements or Change Orders.
Price escalation, supply chain disruptions, and inflation continue to cause unacceptable risks for many general contractors to lock in a fixed-price contract, such as a lump sum contract, or a guaranteed maximum price (GMP) contract agreement early. Join us virtually on April 26th at 2 PM EDT for a deep dive into cost-of-the-work agreements and things to consider surrounding GMPs. During this webinar, you will learn how to identify which itemized costs fall into cost-of-the-work items and what should be considered overhead and profit. As a current ASA member, you will receive $20 off your registration rate using the code w23q2asa upon checkout, reducing the price to $79.
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