In this article, we’re going to review liens in general and the Mechanic’s Lien in detail. We’ll show you the steps to take to initiate a lien and foreclose on a property, how to have a lien removed, and most importantly, we’ll give some recommendations on how to avoid a lien in the first place. Finally, we’ll provide a list of lien filing regulations state by state.

The construction bidding process can be time-consuming and expensive but if done correctly, it can help stimulate any business not only by increasing profits but by strengthening its professional network of construction managers and other general contractors. In short, done well, the bidding process will ultimately lead to new future growth, one way or the other.

Back in the ‘good old days’, you could rely on a handshake deal and be reasonably confident the job would get done right. If there were bumps in the road, you knew they’d get taken care of amicably. Indeed, in some tight communities, contractors still work on a handshake basis, but that’s quickly changing.

Balance sheets are one of the most important aspects of construction accounting, so it is naturally best practice to make sure they are current and accurate. However, some small business owners or operators may not necessarily understand what a balance sheet is, let alone how to keep and maintain one.

Change orders are often required during an ongoing contracting project. This post will help you understand why they are required, how to implement them correctly, and some common gotchas to look out for along the way.

I think we’d all agree that managing project finances is one of the biggest headaches of the job. From task value estimation and cost allocation, to invoicing and handling change requests, dealing with the money side of the business is no walk in the park. And if you’re running several projects consecutively, it’s very easy to lose track of billings and wind up in a serious cash-flow mess.