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
| Oct 8, 2013
Report on large New York City buildings shows progress on energy efficiency
Buildings in New York City have been found to have a median score of 67 out of 100 in Energy Star's Portfolio Manager, an increase from 64 last year, and above the national average of 50, according to a study prepared by the Natural Resources Defense Council for the office of Mayor Michael Bloomberg.
| Oct 8, 2013
ConsensusDocs offers online prequalification management application to boost industry efficiency
In collaboration with ConsensusDocs, iSqFt has launched a new online platform designed to make the prequalification process for contractors and subcontractors seeking new work more efficient.
| Oct 8, 2013
Government shutdown closes E-Verify, could hamper construction hiring
E-Verify, the online federal program used to check the immigration status of prospective hires, has been closed due to the federal government shutdown.
| Oct 3, 2013
Florida contractors worry that regulations will hamper their ability to hire
Regulations such as the E-Verify rule and the Affordable Care Act could hinder contractors from hiring additional workers, according to some Florida contractors.
| Oct 3, 2013
Fall protection violations top OSHA citations list
Violations of fall-protection standards in fiscal 2013 are again the most frequent source of citations from the Occupational Safety and Health Administration, according to its top 10 list.
| Oct 3, 2013
Arizona utility pushes for change in building codes to boost efficiency on all commercial projects
Many large construction projects in Arizona are going green by paying attention to energy efficiency, but smaller buildings that are often rented out haven't yet jumped on the bandwagon.
| Oct 3, 2013
Bipartisan energy efficiency bill stalled; may not be revived this year
The Senate spent the first two weeks of September trying to pass bipartisan energy efficiency legislation, commonly known as Shaheen-Portman (S. 1392) that would have impacted building codes.
| Oct 3, 2013
LEED credential exams will feature LEED v4 material beginning next spring
The LEED Professional Credential exams for the LEED Green Associate and LEED AP with specialty designations will feature LEED v4 material beginning in late spring 2014.
| Sep 26, 2013
Ballot period on National CAD Standards open until Oct. 13
The Ballot Comment Period to update the nation’s leading computer-aided design (CAD) standard is now open.
| Sep 26, 2013
OSHA encourages comments on respirable crystalline silica rules
The Occupational Safety and Health Administration’s proposed rulemaking for respirable crystalline silica has been published in the Federal Register.