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
| Feb 7, 2014
Ohio legislature moves to bar LEED standards on state projects
The use of LEED standards is being barred for public construction in Ohio under a state senate resolution.
| Jan 31, 2014
Center for Environmental Innovation in Roofing releases solar panel racking criteria for asphalt shingle roof systems
The Center for Environmental Innovation in Roofing’s PV Taskforce is releasing the first public draft of PV Racking and Attachment Criteria for Effective Asphalt Shingle Roof System Integration for an initial round of public comment.
| Jan 31, 2014
Developers are exceeding LEED standards for marketing purposes
Using LEED certification as a marketing tool is perceived by developers to be a successful tool, and this has pushed them to go above the minimum requirements at each level of certification, according to a study in the Environmental Science & Technology journal.
| Jan 31, 2014
OSHA extends feedback period for disclosure of workplace injuries proposal
The Occupational Safety and Health Administration said it would extend the comment period for a proposal that would require employers to submit electronic reports of workplace injuries and illnesses.
| Jan 31, 2014
DOE releases new efficiency standards for halide lamps
The Energy Department has finalized new energy efficiency standards for metal halide lamp fixtures, which are used in lighting for big box stores and parking lots.
| Jan 31, 2014
New LEED online platform now available for LEED v4 projects
LEED v4 projects will be the first to experience the new LEED Online platform with streamlined documentation and processes.
| Jan 26, 2014
New York extends, enhances tax abatements to promote green roofs
The expansion of a tax-abatement program for green roofs under New York state law doubles the previous maximum benefit of $100,000, adds new plant species to the list of those applicable for the tax break.
| Jan 23, 2014
Washington state micro apartment law prompts fire safety concerns
Proposed legislation to further regulate the building of micro apartments has triggered appeals from community activists concerned that fire safety standards are sub-par.
| Jan 23, 2014
Pennsylvania owes school districts $1B for construction projects
The Pennsylvania Department of Education owes about $1 billion to numerous school districts for about 350 state-approved renovation and construction projects.
| Jan 23, 2014
About 1,500 concrete buildings in Los Angeles found vulnerable to earthquakes
Some 1,500 concrete structures built in Los Angeles before 1980 could be vulnerable to earthquakes, according to University of California researchers.
