Built with Billd Blog

Expert strategies, comprehensive guides, and industry insights for growth-focused commercial subcontractors.

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Subcontractor Cash Flow: What Turner Trade Partners Learned About the Construction Payment Cycle

Navigating Good Debt vs Bad Debt: A Strategic Approach for Subcontractors

Imagine a successful business, thriving with growth and profitability. What comes to mind? Perhaps a strong leadership team, innovative products, or stable, increasing revenue. But what about debt? Contrary to popular belief, debt isn't always a sign of financial struggle. When used strategically, it can be a powerful tool for accelerating growth, optimizing cash flow, [...]

5 min readDec 19, 2023

Construction

Hiring vs. Contracting Labor: The Pros and Cons of Each

Amid a massive labor shortage, subcontractors are forced to be more strategic about their workforce than ever. They have a choice between hiring their employees (provided they can find good candidates), or subcontracting with a labor company. Striking a good balance between hired and contract workers can help you run your business more efficiently. There [...]

7 min readMar 8, 2023

Featured

2022 National Subcontractor Market Report: How Labor Shortages & Market Volatility are Impacting Subcontractors

Billd has released the second annual National Subcontractor Market Report. Last year’s report honed in on the financial reality of subcontractors. Despite having just emerged from a pandemic, last year’s market conditions were perceptibly calmer — even if financial options were (and always have been) tight. This year told a different story. A volatile market [...]

6 min readApr 18, 2022

Featured

What Is a Notice of Completion and How to File One

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 construction lien rights, because the Notice of Completion shortens construction lien deadlines. Construction liens protect payments to subcontractors [...]

3 min readJun 30, 2021

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Notices of Commencements: 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 [...]

4 min readJun 16, 2021

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Substantial Completion 101: Everything You Need to Know as a Subcontractor

For many construction projects, owners want to begin using or occupying the building as soon as possible — even if there are still minor details that need to be completed. For that reason, many contracts include the term “substantial completion.” Substantial completion refers to when the building can be used for its intended purpose, [...]

4 min readMar 31, 2021

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AIA G702 Forms: A Subcontractor's Guide + The 6 Biggest Mistakes That Delay Project Payment

During your time in the construction industry, you’ve likely learned that the process to request payment often varies from company to company and job to job. However, one payment application (or “pay app”) that you’ll encounter repeatedly is the American Institute of Architect’s G702-1992 Application and Certificate for Payment. The G702 form streamlines the [...]

5 min readMar 18, 2021

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What Is Retainage? Everything a Contractor Needs to Know in 2023

Retainage is a common practice in construction where a portion of funds are withheld from a contractor or subcontractor until the project is completed. Retainage therefore, can have a significant impact on contractor cash flow. In an industry already rife with cash-flow challenges from large upfront expenses and slow, unreliable payment cycles, retainage does nothing [...]

6 min readFeb 4, 2021

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Why Construction Notices and Liens Are a Contractor's Best Friend

For contractors, construction notices are the equivalent of taking out an insurance policy on each project. They’re there if you need it, and irrelevant if you don’t. But for some reason, there’s a negative stigma around sending construction notices, and more specifically, liens in general. This is likely due to the false idea that [...]

3 min readJan 7, 2021

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