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 18, 2012
Princeton, N.J. residents upset over proposal to exempt colleges from land use laws
Princeton, N.J. residents criticized proposed legislation that would exempt private colleges and universities from following local land use laws for construction projects.
| Oct 18, 2012
Utah contracting firm challenges state immigration law
Universal Contracting LLC of American Fork, Utah, has filed suit challenging the constitutionality of Utah’s 2011 immigration law.
| Oct 18, 2012
More than 65,000 construction, design jobs may be cut if sequestration takes place
About $2 billion worth of construction and design projects would be eliminated if scheduled federal budget cuts, referred to as sequestration, take effect on Jan. 2, 2013.
| Oct 18, 2012
OSHA investigating parking garage collapse that kills four at Doral, Fla. college
OSHA is investigating the collapse of a five-story concrete parking garage under construction at Miami Dade College West Campus in Doral, Fla. that killed four workers and injured several others.
| Oct 18, 2012
EPA commercial building lead paint rule pushed back to 2015
The U.S. Environmental Protection Agency's inclusion of commercial buildings in a residential lead paint rule is being delayed until 2015.
| Oct 18, 2012
Chicago pushing green roofs to reduce heat island effect
The city of Chicago has mandated that all new buildings that require any public funds must be LEED certified, usually with a green roof.
| Oct 11, 2012
OSHA launches pilot program for alternative dispute resolution on whistleblower complaints
The Occupational Safety and Health Administration (OSHA) is launching an alternative dispute resolution (ADR) pilot program for complaints filed with OSHA's Whistleblower Protection Program.
| Oct 11, 2012
Bill promotes investment in commercial, multifamily retrofits
The Commercial Building Modernization Act recently introduced in the Senate would extend and streamline a current tax deduction to encourage commercial and multifamily residential building owners to perform comprehensive energy-efficient retrofits.
