New Hampshire & Vermont Chapter

Dollars & Sense

GREEN CONSTRUCTION WOULD BENEFIT FROM MORE APPROPRIATE APPRAISALS AND FINANCING
 

Successful construction executives stay on top of industry trends, readily adapt to changes in the marketplace and pay close attention to the owner community’s wish list. The green building market serves as a perfect example. Contractors that saw the tide turning green a few years ago better positioned their companies to withstand the downturn in construction. Now, what lies ahead for the future of green building?

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RELEASE MY PROFIT (RETAINAGE)
 

The new economy, new norm, has all businesses confronting the demand to be more efficient, maximize every dollar, control material and labor cost, maintain a productive and safe workforce, understand and employ new technologies and compete for work with tight profit margins and little contingency for error. Relatively speaking, from a risk perspective, the tightrope walk over Niagara Falls was no big deal.

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RESCUE SINKING PROFITS

Evaluate your business and find new ways to increase your margins
 

Low margins are challenging most businesses and keeping many owners up at night. There are a number of factors that weave together to make margin shrinkage an issue for everyone. In many areas, competition has increased dramatically. As new competitors vie for your business, they naturally lower prices to buy their way into your accounts. In most industries, not just construction, the demand for lower cost products and services is much greater than five years ago. In the face of decreasing prices, it's difficult to maintain margins. And, of course, in this era of Wal-Mart, Target and ubiquitous demands for lower prices in every other aspect of our lives, we are constantly fighting to differentiate construction services from commodities purchased off the shelf.

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CHANGE ORDER BASICS: THE CARDINAL CHANGE

Kelly Gagliuso, Gagliuso & Gagliuso, PA
 

Demands for extras have become the norm in contracting arrangements between owners, contractors and subcontractors.  Although contractors are typically required by contract to pursue changes requested by the owner, it is important to understand that there are rare circumstances in which changes can be so vast and burdensome as to constitute a "cardinal change" which discharges the contractor from further performance under the terms of the contract.  The legal standard can be elusive, however, and contractors seeking to terminate on this basis should tread lightly. 

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MANAGING FRINGES ON PREVAILING WAGE JOBS CAN RESULT IN LOWER COST, HIGHER PROFITS AND MORE COMPETITIVE BIDS

Brian Renaud, Fringe Benefit Group
Navigating your way through prevailing wage laws can be quite challenging, even for the most experienced contractor. With the ARRA, it’s more important than ever for
contractors to understand their options as well as their obligations.

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RETAINAGE PRACTICE IN THE CONSTRUCTION INDUSTRY - Executive Summary

Commissioned by the Foundation of the American Subcontractors Association as the first study in its Contractors’ Knowledge Quest research series, “retainage Practice in the Construction Industry” provides insight into contemporary attitudes toward the practice of retainage, as well as historical background illustrating the evolution of attitudes toward the practice. Author Dr. Dennis Bausman of Clemson University explains the historical trend toward reduction of retainage on construction projects, largely driven by high-profile industry efforts to reduce retainage on projects funded by federal government agencies. Dr. Bausman also reveals contemporary perceptions of construction owners (public and private), architects, construction managers, general contractors and subcontractors about the role and effects of retainage, and analyzes the significance of these perceptions for the construction industry.

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THE NEW MASSACHUSETTS PROMPT PAYMENT ACT AND ITS IMPACT TO NEW HAMPSHIRE CONTRACTORS

by Ronald D. Ciotti, Esq. / Seth M. Pasakarnis, Esq. - Hinckley, Allen & Snyder LLP
Introduction
Massachusetts law has long required prompt payment of contractors and subcontractors on public projects. On public contracts, state agencies must make payment to prime contractors within certain time limits, and prime contractors must pay subcontractors and suppliers promptly upon receipt of payment from the government entity. On private projects, until recently, payment terms were left to the parties to negotiate in their contracts and subcontracts. The remedy to effectuate late or nonpayment was often limited to mechanic’s liens and/or breach of contract lawsuits.

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SECOND INJURY FUND MAY LIMIT YOUR COMPENSATION COST

New Hampshire’s Second Injury Fund gives employers an opportunity to limit their compensation costs in the event that an employee with a previous impairment sustains a
worker’s compensation injury. The worker’s impairment can be of any type or cause, work related or not, as long as it is a permanent impairment and is serious enough to pose an
obstacle to the worker in obtaining employment. The intent of the Second Injury Fund is to equalize the compensation cost that the employer and their insurance company must pay for impaired and non-impaired workers, thereby removing a potential barrier to the employment of previously injured or impaired workers.

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ASSOCIATED BUILDERS & CONTRACTORS NH/VT
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