Welcome to the all new Construction Financial Manager Review. We’ve revamped the format and content to make this newsletter as informative and useful as possible for our readers.
The purpose of the Construction Financial Manager Review is to save you time by providing a weekly roundup of curated articles and news for small business owners, credit professionals, and everyone who wants to broaden their knowledge of financial management in the construction industry. We hope you enjoy this new version and would love to get your feedback.
Happy weekend,
Scott Wolfe
zlien CEO
What We’re Reading
Key Articles from Across the Web This Week
Betting on BIM: Inside the UK’s new construction technology mandate
As of Monday, all government contractors in the United Kingdom must be compliant with Level 2 Building Information Modeling (BIM). What does this mean for the UK? And for the US? Read the full article on Construction Dive.
Fraudulent liens are a bad idea in more ways than one
Mechanics lien abuse can have serious consequences. It is important to know why and when it is (and isn’t) appropriate to file a lien. Read the full article on Construction Executive: Risk Management.
Here’s why New York real estate developers are richer than ever
The NYC real estate market has officially rebounded since the recession of 2008. How has it come back so strong? Factors ranging from the growing tech industry to rezoning have played a role. Read the full article on Forbes.
California high-speed-rail construction rolling ahead
Crews are making headway on the initial 100 miles of track on California’s $62.1 billion high-speed-rail line. Read the full article on ENR.
Tips and tricks for handling customers who want to negotiate
Though the typical approach to bidding may be “take it or leave it,” contractors might find themselves winning a lot more bids if they open up to doing a little bit of haggling. Read the full article on Contractor Talk.
China to invest almost $1tn in high-tech infrastructure
Beijing is to invest 6 trillion yuan ($926.6 billion) in infrastructure and high-tech research to develop transportation, environmental protection, urban planning, fixed assets, and tourism. Read the full article on RT.
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What We’re Writing About
Recent Articles by zlien Relevant to Construction Finance
Reduced retainage is not released retainage
A recent court case in California addressed retainage on public projects after a subcontractor claimed that the GC on a project had violated the Prompt Payment Statute. Read the full article.
Miller Act claims are not easily tossed aside
Miller Act bond claims can be filed by certain parties on federal projects. These claims may be stayed until the contract dispute is settled, but only if this is laid out by the subcontract. Read the full article.
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