Retention is a standard practice in the construction industry, providing numerous benefits to project owners, contractors, and stakeholders involved. Here are some key reasons why retention is crucial in construction projects: While construction retention may seem like a grueling process, it can provide numerous benefits for all the involved parties in a construction project. Moreover, …
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Having silos of information can limit a business’s growth. This is because the quality of information has an impact on the effectiveness of the decisions you make. Information silos can be formed in both large and small organizations. The most efficient way to break down information silos is by making it easy for employees to …
A revised regulation regarding the management of project finances is now implemented in Queensland. The primary goal of the Security Payments Act of 2017 is to strengthen the security of payments to subcontractors in the country. A streamlined approach to fulfilling account requirements in the construction and building industry. The Project Trust Account framework applies …
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