EDR bonds offer an intriguing alternative for contractors
Construction projects thrive on momentum. Unfortunately, disputes can derail even the most carefully planned schedules. And while traditional performance bonds provide financial security, they often leave the dispute resolution process open-ended. Expedited dispute resolution (EDR) bonds address this gap. These … Read more…
9 cash flow tips for construction businesses
With tariffs, interest rates and other factors continuing to drive economic uncertainty, cash flow management should be a top priority for construction businesses. Here are nine tips for better maintaining your company’s liquidity: 1. Stay on top of forecasting. Cash … Read more…
6 pertinent provisions of the OBBBA for construction companies
It’s been over a month since the One, Big, Beautiful Bill Act (OBBBA) was signed into law. Now that the dust has settled, construction business owners and their leadership teams can begin to really pinpoint the provisions most pertinent to … Read more…
How construction businesses can establish themselves on social media
For many types of construction companies, visibility is key. There may be multiple competitors in your market that provide largely the same services you do. How can you distinguish yourself from them and gain the attention of key stakeholders such … Read more…
Contractors can calculate KPIs, too
Successful companies of all stripes use key performance indicators (KPIs) to monitor their financial health and spot red flags. Well, you know what? Construction businesses can do it, too. And you should. Let’s review some of the most important KPIs … Read more…
FinCEN Removes Beneficial Ownership Reporting Requirements for U.S. Companies
The Financial Crimes Enforcement Network (FinCEN) has issued an interim final rule that eliminates the requirement for U.S. companies and individuals to report beneficial ownership information (BOI) under the Corporate Transparency Act. Existing foreign companies, however, must still report their … Read more…
Reviewing the look-back method for long-term construction contracts
Among the most common challenges of any long-term construction project are fluctuating job costs. However, variations in the cost of materials and labor over time aren’t the only cause for concern. Permitting issues, economic changes and evolving regulations can all … Read more…
March 2nd Update: Treasury Department Announces It Will Not Enforce Non-Compliance of BOI Reporting Requirement
Update: The Corporate Transparency Act and its BOI reporting requirements are currently under litigation. Please refer to our most recent post for the latest developments. The Treasury Department announced on March 2, that it will not enforce any penalties or fines related to the beneficial ownership information (BOI) reporting rule under the Corporate Transparency Act, both under the current deadlines … Read more…
BOI Reporting Deadline Now March 21 – U.S. District Court Ruling Reinstates CTA & Beneficial Ownership Information Reporting Requirement… Once Again
Update: The Corporate Transparency Act and its BOI reporting requirements are currently under litigation. Please refer to our most recent post for the latest developments. A February 18th FinCEN alert notified businesses that the U.S. District Court for the Eastern District of Texas reinstated the beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA). FinCEN indicated that during the … Read more…
The latest on occupational fraud in the construction industry
The construction industry has made great strides in overcoming the outdated perception that it’s rife with corruption. Unfortunately, the fact remains that contractors lose hundreds of thousands of dollars a year to occupational fraud. As formally defined by the Association … Read more…
