Don't be afraid | gensRATE

Don’t be afraid

When insurance loses you money

Because Betrayal and Dishonesty Sting

OWNER. Seems like such a big word. Thrown about by GCs talking about their clients and their clients in turn throw it around when talking about their “investors” (usually banks). When a GC stiffs you on a deserved payment you can try to work it out. Protect your lien rights and lien. If you still aren’t paid you can goto court. Their contract might make you go to arbitration but before you goto either of those places go straight to the owner. Owners don’t like controversy. They don’t like hassle. They don’t like liens. There is no guarantee that an owner will care or care to help but it is a hell of a lot cheaper to try than the attorney way of doing things. If it fails do not hesitate to go straight to court. Lawsuits are long and the longer you wait the more money you’ll lose either in attorney’s fees, fatigue from loss of cash flow or filing deadlines.

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The hypocrisy of it all: When a supplier can’t

Code of Ethics. Supplier code. Doing business code. Every single thing from their “five pillars” of doing business to 50-page ethics code flies completely in the face of everything that has occurred with their product. In fact lies have been told by the manufacturer’s sales reps to attempt to cover-up a variety of things. They’re […]

Typically contingency % for building

Everywhere I look I see 5-10% as typical. That said there is currently a 26 million dollar public works project that only set aside 2.5%. From there the GC doesn’t book change orders but strictly as contingency expenses but then turns around and claims a low amount of change orders which isn’t true. So rather […]

New CO ratio to be included in future genDEX

It isn’t integrated yet as details are still being worked on but the general idea is that GCs seem to be really good at booking credits and back charges and REALLY slow at approving change orders. This can greatly affect pay apps and cash flows. A slight difference might be expected because of presentation to […]

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