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Ike's Newsletter September 23, 2022

Change Order Payment is a Very Big Problem in our Area 

Sixty-six percent of respondents indicated they are waiting more than 90 days to receive an approved change order from the GC. The subcontractor expects to get paid in 30 days after the change order is approved and the work completed/invoiced. Most have 5 to 10 percent of their current contracts in change orders. This survey received 46 responses so far and there is a good indication that owners and general contractors are not aware of the consequences for slow payment of change orders. Waiting 120 days for payment on work being done is a huge drain on subcontractor resources and a reason many do not survive. Reply to this email to get the results of this survey in chart form.

“Pay if Paid” (PIP) 

What is fair?  Is PIP legislation in Virginia a win-win?  These and many other questions were addressed at last week’s joint event with CFMA led by Smith Currie’s Lauren McLaughlin.  Two valuable take aways are: 

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Ike's Newsletter September 9, 2022

Change Order Expectations

A visit last week with one of our GC Partners led to an excellent discussion about change orders.  As a result, each person reading this is asked to respond to this 30-second survey on your experience and expectations of change order approval/payment. Please respond now.

Some takeaways from our change order meeting include:

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Ike's Newsletter August 26, 2022

Procore Wants to Help with Subcontractor Payment

As a result of LevelSet being purchased by Procore, it plans to address the “gap in subcontractor payments” that we at ASAMW continue to work on. According to this article in Construction Dive, Procore would purchase materials for subs and charge an origination fee plus a weekly finance charge. They contend the Owner would then be on the hook for payment. What do you think about that?  

LevelSet also has a pretty good way to track the payment profiles of GCs, Subs and suppliers. Click here and see what you think about their free reports.  

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Ike's Newsletter August 12, 2022

Valuable Programs in September

There has been a lull in activity over the Summer but much is happening at ASAMW in the weeks to come. A full list of events can be found below. Here are some events to consider:

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