A new database offers profiles of general contractors that include information on how fast or slowly they pay subcontractors.
The free service offered by Levelset provides in-depth information on industry payment practices based on data from various sources. To date, Levelset has published more than 7,700 contractor profiles, including revealing the payment behaviors of the 300 biggest U.S. general contractors. It plans to publish another 10,000 profiles over the next three months.
“This platform gives the public access to the largest contractors in the USA and the fastest paying contractors state-by-state,” according to a Levelset news release. “Contractors and suppliers are stressed about cash. Both are scared about not getting a fair shake from the other.”
A recent national construction survey found that:
● 75% of contractors said they wished they had a better understanding of how owners and general contractors were paying others on their job and in their markets.
● 69% of contractors would be more comfortable sharing payment terms if they could do so anonymously.
“For the first time ever, subs and suppliers can see the payment risk and reviews associated with General Contractors and take measures to avoid bad outcomes,” the release says. Reviews are anonymous to the public but verified through an internal process to ensure validity. “This helps GCs compete for the best subs by showing how much subs love working for them,” Levelset says.
Related Stories
Codes and Standards | Aug 16, 2018
Nearly a quarter of opioid overdose deaths attributable to construction workers
Massachusetts public health study finds pressure to work in pain contributes to problem.
Codes and Standards | Aug 15, 2018
ICC creates new committee on building safety and security
Will include experts from many different disciplines.
Codes and Standards | Aug 14, 2018
Philadelphia adopts 2018 IECC energy code, while state opts for 2015 code
City is one of the first jurisdictions to adopt newest code.
Codes and Standards | Aug 9, 2018
Denver’s goal of 100% renewable energy by 2030 includes net zero energy buildings
Community solar programs for low income residents part of plan.
Codes and Standards | Aug 8, 2018
Too much parking in U.S. cities proving costly
As car ownership rates drop, excess parking seems more wasteful.
Codes and Standards | Aug 7, 2018
International Fire Safety Standards (IFSS) Coalition created
Professional associations and building standards organizations join forces.
Codes and Standards | Jul 31, 2018
Workers allegedly held in captivity by construction subcontractor in San Jose pay theft case
Contractor pays $250,000 in back wages in Dept. of Labor enforcement action.
Codes and Standards | Jul 17, 2018
Heat island effect can turn deadly in extreme conditions
Of all the impacts of global climate change, it’s extreme heat that kills more Americans each year than any other weather-related event.
Codes and Standards | Jul 17, 2018
NIMBYism, generational divide threaten plan for net-zero village in St. Paul, Minn.
The ambitious redevelopment proposal for a former Ford automotive plant creates tension.
Codes and Standards | Jul 17, 2018
In many markets, green features are more of a requirement for apartment renters
Renters in many U.S. cities have come to expect green features in apartments that they rent, with an eye toward energy efficiency and healthy indoor air.