The default rule in multi-tier, low-bid contracting is that prime contractors bear the loss if an owner fails to pay. The prime contractor remains obligated to pay regardless of an owner’s default.
Most companies are leaving 10-30% on the table in operating expenses. Fortunately, recovering those expenses can occur without sacrificing supplier quality or service.
Prime contractors want to broadly incorporate their obligations under the owners’ contracts to ensure there are no gaps. Subcontractors typically want the opposite: narrow and specific obligations that limit their risk. Conflicts inevitably arise.
Leaders need to understand that their decisions and actions have consequences, including damage to their personal reputations and that of their company. Reputation is the most important thing we have.
Depending on how frequently you review your financials, many things can be observed and proactively acted upon that will have a dramatic impact on your business.
The South Dakota Supreme Court recognized that “playing a prank on a co-worker during an idle period is [an activity] in which employees might reasonably engage” - therefore eligible for workers...