Change Orders: Different Types, How They Work, and What to Include
Changes to contractual agreements can become necessary at any time during the life of a construction project. Between the signing of the original contract and the completion of work, dozens of changes may be requested regarding the project’s schedule, scope of work and budget. Change orders are the official documents used to make changes happen. […]
5 Steps Subcontractors Need to Take Before Entering a New Geographic Market
As a subcontractor, expanding into new markets can be a reliable method to achieve business growth. You may feel that you’ve penetrated most of the target market in your current geographic territory, and business growth now requires expansion. You may also see an increased need for your services in another city that is showing […]
What Is a Notice of Completion and How to File One in 2023
What Is a Notice of Completion? A Notice of Completion is a document that establishes the official date that a construction project is considered complete. This is particularly important for parties involved in the project that have mechanics lien rights, because the Notice of Completion shortens mechanics lien deadlines. Mechanics liens protect payments to subcontractors […]
Billd Success Stories: How Solar Supplier R.E. Supply Found a Better Solution to In-House Financing
“Our mission is to be a partner to contractors, to provide better pricing and help them manage their cash flow. Billd helps us do that. With Billd, we help our customers win the bid, in spite of cash flow. It works really well for our customers and for us.” – RE Supply Leading renewable energy […]
Notices of Commencements in 2023: What It Is and How to File It
What Is a Notice of Commencement? A Notice of Commencement is a document that establishes the formal start date of a construction project and identifies the project stakeholders, such as the property owner, lender, and general contractor. It is filed in the county where the project is located, and it is typically posted at the […]
Construction RFI Fundamentals: What Subcontractors Need to Know
Request for Information documents (RFIs) are commonly used by contractors in the construction process. This guide provides a brief overview of the RFI’s purpose, application, process and content – and also includes a handy list of best practices to follow. What is the Purpose of an RFI in Construction? The RFI plays an essential role […]
The Subcontractor’s Guide to Construction Punch Lists
At some point in every construction project—no matter how large or small—a punch list must be created. That is, a document that shows all the parties involved what tasks need to be completed. Of course, this is easier said than done, especially when there are numerous players involved. What is a Punch List? The […]
2021 National Subcontractor Market Report: Statistics on Business Growth & Financing
The inaugural Billd National Subcontractor Market Report provides statistics on general outlooks toward business growth & financing in the construction industry. This report was founded upon a survey conducted in March 2021, which queried contractors on their business growth goals, capital sources, and how supplier terms influence their financing decisions. Their responses yielded the following […]
Schedule of Values: A Contractor’s Complete 2023 Guide
Of all the documents involved in a construction project, the Schedule of Values (SOV) is key for tracking the progress of your work as a contractor, getting paid on time, and (perhaps most importantly) managing your cash flow — especially on larger commercial construction projects. Even if you haven’t created a Schedule of Values yet, […]