The Float for
Construction and trade contractors
Payroll, materials and equipment go out as the work happens. The pay application comes in a month or more later, and retainage holds back a slice of every one until the job closes out.
Get the contractors section first
Same weekly issue, your industry up top.
Work in place
Crews, materials and rentals are paid as you go.
Draw clears
After the pay application is approved, with retainage still held back.
What we cover each week
- Construction spending and where the work is, by sector.
- Retainage rules, lien and bond rights, and prompt-payment protections by state.
- Pay applications that get approved the first time.
- Mobilization, supplier terms and sizing a job to the cash you have.
Guides
Evergreen pieces we keep current. Each one is general information, not advice.
Lien waivers: what you are signing, and when to sign it
Every pay application comes with a waiver to sign. Conditional or unconditional, progress or final, the words decide whether you keep your lien rights while you wait for the check.
Paying for mobilization before the first draw
Crews, equipment and materials move before the first pay application clears.
Pay applications and the schedule of values, done right
The schedule of values you submit at the start decides how much cash each pay application releases. Build it for cash flow, then bill it so it is approved the first time.
Retainage: the money you earned but can't touch yet
Retainage holds back part of every progress payment until the job is done. Plan for it before you bid.
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