Customer Stories | MazumaGo

What Is a lien waiver, and when should I sign one?

Many contractors will run into waivers in their construction careers, either as a clause of their contract agreement or as a condition of payment for services rendered. Here’s a primer on lien waivers and when you should consider signing one. As with many technical terms, a lien waiver is a pretty simple concept when you break it down.

How to send a construction invoice that gets you paid

Construction leaders are working hard to rid the industry of late payment problems by regulating payment timelines. However, your invoicing habits could make a difference, too. Here are some key elements and best practices to send a construction invoice that gets you paid.

Should my contracts include back charges?

There are a lot of risks inherent in construction projects. Contracts help minimize risks by expressly naming responsibility for costs resulting from unexpected circumstances. Back charges are an example of a contract clause that can reduce risks for owners and general contractors by charging contractors for added costs resulting from poor quality work, property damage, or negligence.

What is a demand letter in construction, and how can I write one?

When a contractor enters an agreement to provide building services, it comes with a good faith expectation that expedient payment will follow. Sometimes there are complicating factors that delay payments. One of the steps a contractor can take to get paid and salvage those relationships is to send a demand letter.

Should I consider invoice factoring for my construction business?

Factoring can be a useful financial tool for a contractor, by helping to cover costs when money’s tight. However, it shouldn’t be taken lightly, as it comes with its own costs and risks. Here we’ll talk about why a contractor might consider factoring, the benefits and risks to its use, and alternative methods of accessing cash.

5 Reasons to automate payment systems in your contracting business

The construction industry is quickly realizing the advantages of digital tools to improve business operations. However, within this technical revolution, builders often pursue tech tools that will help them become more efficient and productive in their field operations and leave accounting and payment systems behind. Automating your payment systems early on can have many benefits, and it makes sense to make this switch sooner rather than later.

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