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Ike's Newsletter October 15, 2021

Executive Director's Report 

Good Things are Happening – Are you Part of the Solution?

Your association is working to achieve needed changes in the construction industry.  Are you helping? When we meet with GCs to discuss the ASAMW Addendum, we often hear that most subs do not even read the subcontract; they just sign whatever is given to them.  If you are not studying it, as well as asking for a copy of the primes contract with the owner and carefully studying the scope of work, then you are not part of the solution.  What can you do?

  • Obtain a copy of the ASAMW Subcontract Addendum by replying to this email, and ask the GC to accept it on your next project.  It is a fair document and the best starting point for negotiations.

  • Ask for a reduction of retainage to 5% when your work is 50% complete.  Bankers and Owners have stated that they would grant this if asked.  Is your GC asking for this reduction for itself and for you?

  • Educate yourself and your contract team about the important issues in the total subcontract and ask appropriate questions.  Legitimate GCs appreciate that you know and understand their subcontract.  Watch for an upcoming session on the ASAMW Addendum.

  • Attend ASAMW informational sessions.  Look for those events that will make you a more sophisticated subcontract reviewer. Visit this site frequently to make sure you are aware of all the valuable events taking place at ASAMW.  
  • Educate others in your company.  Let us know if others at your company should be receiving these emails and attending educational events.  Just reply to this with their names and email addresses.

STOP for 10 Minutes and Make SUBBY Nominations

Click here to nominate individuals and companies who are the BEST at their jobs. You can submit one nomination a day if you want, but let’s make this year’s SUBBYs mean something to those who are nominated.  More individuals will be recognized this year, so think about the best with whom you have worked and make a nomination.





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Ike's Newsletter October 1, 2021

Executive Director's Report

SUBBY Nominations are Ready for YOU

Click here to nominate individuals and companies who are the BEST at their jobs.  You can submit one nomination a day if you want, but let’s make this year’s SUBBYs mean something to those who are nominated.  More individuals will be recognized this year, so think about the best with whom you have worked and make a nomination.

Besides the regular categories, Scott Harding and the SUBBY Nominations Committee is including:

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Ike's Newsletter September 17, 2021

Executive Director's Report

Is Payment by the 10th Possible? Paper Available to You

The ASAMW Board approved a paper that details how a subcontractor is forced to finance construction projects.  This paper was sent to DC’s Office of Contracting and Procurement (OCP) and we are seeking endorsement by the Alliance for Construction Excellence, the lobbying group for ASAMW and several other associations.  If you would like a copy of the four-page paper, please reply to this email.

Cash flow is a major issue for Bankers, Developer/Owners, GCs and Subs, but the problem with the current system is that subcontractors are the ones who suffer most when there is a hold up in the process.  Here are some points made by a panel of experts at the CFMA/ASAMW Joint meeting this past Tuesday in Tysons:

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Ike's Newsletter September 3, 2021

Executive Director's Report

Is Payment by the 10th Possible? Paper Available to You

The ASAMW Board approved a  task force report explaining how subcontractors are forced to finance construction. Just reply to this email to receive a copy.  The paper shows how a subcontractor on a $500,000 job will wait 68 days before receiving its first payment, forcing it to finance almost half of the project costs.  DC government agencies and lawmakers want to encourage women and minority businesses to thrive in DC, but such efforts are hopeless unless something is done to get these emerging companies out of financing construction.     

There are a few seats still available for Sept. 14th at the Tower Club in Tysons Corner, where a distinguished panel of Developers, GCs and Bankers will explain the payment process to see why it takes over 45 days for payment to be received by a subcontractor for work properly completed and invoiced on private work.  The panel will include: Paul Elias, Redbrick LMD, Eric Wayne, AvalonBay, Brett Harton, Foulger-Pratt, and Bruno de Faria, M&T Bank.  Amanda Raman with Therrien Waddell will be the moderator.  Click here for more information about this event.

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