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REASONS FOR HELD PAYMENTS
EDIFICE, ASAC General
Contractor Council Member, presented the following ten reasons payments
are held 90% of the time.
1. No signed contract
2. Insurance Certificates not received
3. Proper billing documents
Signed/notarized pay application
Signed/notarized lien waiver
Schedule of value (continuation sheet)
4. Supplier Lien Waivers not received
(as necessary)
5. Sales Tax Statement not received (as
necessary)
6. Timing of billing (late)
7. Billing for work not complete
8. Unsigned change orders
9. Lacking stored materials
documentation
10. Notice of Claim or Lien by suppliers/Not paying
suppliers
Edifice "tip" to remember:
If it's hard going into a project, it will be hard
going out!
Bottom Line - Know who you are doing business with and
make sure all your bases are covered on the above top ten.
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