Construction companies should brace for change. The 30-plus-year drought since the last tax code overhaul is now over as Congress sets out to vote on and place a now-finalized tax bill on President Donald Trump’s desk. The bill slashes the corporate tax rate from 35% to 21%,…Read More
Top 10 Construction Lien Errors
Following last week’s blog about the Importance of Knowing State Lien Laws, the DrawAlert team thought we would share an interesting article we came across. This article was written by Florida attorney, Brian P. Deeb. Remember to check with your state’s specific Lien Laws, and enjoy this list of the Top Ten Construction Lien Law…Read More
The Importance of Knowing State Lien Laws (and Yes, They are ALL Different)
Lien waivers play an essential, if complicated, role in the construction industry funding process. The basic concept of the Mechanic’s lien law is to provide an additional protection of payment for workers and suppliers who perform services to improve real or personal property. However, lien laws are complex, technical and nearly constantly changing or being…Read More
Stakeholder Transparency on Every Construction Project
We all know that transparency is important, it is especially important when it comes to the construction process. In the typical construction process Owners engage a General Contractor who in turn hires Subcontractors. The respective contractors engage Lien Servicing Companies to provide Pre Lien filings which get sent to the Owner’s Rep. This can be…Read More
The Prompt Pay Act – How It Affects You
Changes to the Prompt Pay Law were enacted in 2010 and apply to any construction contract where the initial distribution of plans by an Owner to a Contractor or Subcontractor (including bid plans and construction plans, specifications or contract documents) occurs on or after January 1, 2011. The Prompt Pay Statute was enacted to ensure…Read More
What Can You Add to Design Build to Improve Results?
Design-build construction methods, where the designer and constructor are the same entity or are on the same team rather than being hired separately by the owner is gaining ground as a significant trend in design and construction today. By positioning the designer and the constructor together (or by having the same person do the job),…Read More