Construction Insurance 101: Types, Coverage, and Costs Explained
If you’re in the construction industry, you know that every project comes with risks. From accidental property damage to workplace [...]
What is a Design-Build Contract in Construction?
Choosing the right construction contract type is important for avoiding delays and disputes in complex projects. One approach that’s becoming [...]
What Is a Unit Price Contract in Construction?
Unit price contracts are a popular choice in the construction industry for their ability to handle projects with variable scopes. [...]
Time and Materials (T&M) Contracts: Definition, Pros, and Cons
Managing project agreements can be difficult, especially when dealing with unpredictable timelines or costs. For dynamic projects where flexibility is [...]
What is a Cost-Plus Contract in Construction? (Types and Definition)
Cost-plus contracts are becoming an increasingly popular choice in the construction industry. These contracts offer transparency and flexibility, making them [...]
Retainage in Construction: Complete Guide to Billing and Best Practices
Retainage is a portion of a contractor’s payment withheld until project completion that serves as a safeguard for quality and [...]
What Is a Construction Punch List? The Complete Guide
When you’re nearing the end of a construction project, every detail counts. That’s where a construction punch list comes in. [...]
Complete Guide to Guaranteed Maximum Price (GMP) Contracts in Construction
Guaranteed Maximum Price (GMP) contracts are commonly used in many industries, but they have particular considerations when applied to construction [...]
Lump Sum Contracts in Construction: Everything You Need to Know
A lump sum contract is a fixed-price agreement where the contractor completes a project for a set price, regardless of [...]