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
| Nov 26, 2012
How to boost resilient systems that are sustainable
Cities of the future can be both more resilient and more sustainable by promoting strategies that include solar power and green roofs, programs that minimize demand for energy, rain gardens, and permeable pavement.
| Nov 26, 2012
Developer of nation’s first LEED platinum skyscraper focuses on carbon reduction
The Durst Organization, the developer of the first LEED platinum certified skyscraper in the country, says it will not seek LEED certification for its residential pyramid planned for New York’s West 57th Street.
| Nov 26, 2012
Questions linger over ability of Miami's newer high-rises to withstand hurricanes
Some towers in Miami, rebuilt after a hurricane in 2005, were allowed to be constructed under older building codes instead of newer ones created after Hurricane Wilma.
| Nov 26, 2012
Changes in development and building standards needed for health of Potomac River
The Potomac River’s health stands to suffer if the region does not change its development and building standards, according to the Potomac Conservancy.
| Nov 16, 2012
South Dakota prefers LEED over building code on state projects
“(LEED is) much better than a mandatory building code because you get a little wiggle room in these projects,” said Mike Mueller, a spokesman for the South Dakota Bureau of Administration.
| Nov 16, 2012
AAMA publishes quality assurance guidelines for Polyamide Thermal Barriers
The American Architectural Manufacturers Association (AAMA) has published QAG-2-12, Voluntary Quality Assurance Processing Guide for Polyamide Thermal Barriers.
| Nov 16, 2012
New ANSI/BIFMA standards developed for educational seating
The American National Standards Institute (ANSI) has approved the newly developed safety and performance standard for educational seating: ANSI/BIFMA X6.1-2012—the first of its kind.
