.svg)
Architect
What is an Architect?
An architect is a professional who works within the construction industry and is responsible for designing and planning buildings and oversee their construction. They utilize their specialized skills in art, science, technology, and humanities to design safe and functional buildings, from residential homes to large commercial properties. Besides the aesthetic aspect, their work also involves understanding structural integrity, safety regulations, and building codes. The role extends beyond design, it includes meetings with clients, contractors, engineers, and other professionals. Their intricate hand in shaping environments makes them a vital cog in the construction industry.
Trusted by trade contractors across the country
Other construction terms
What is a Mechanic’s Lien?
A Mechanic's Lien is a legal tool used within the construction industry. This claim is used by contractors, subcontractors or suppliers who have not been paid for work or materials provided on a construction project. The lien is attached to the property where the work or supply was carried out, and can impact the ability to sell or refinance the property until the debt is settled. Essentially, it's a security interest in the title of the property for the benefit of those who have supplied labor or materials that improve the property. The nature and rules of a Mechanic's Lien can vary by jurisdiction, but the overall concept is to provide a form of protection to those in the construction industry that have fulfilled their contractual obligations but have not received their due payment.
What is a conditional lien waiver?
A conditional lien waiver is a legal document used in the construction industry that states a contractor, subcontractor, or supplier will give up or waive their right to place a lien on a property, under the condition they receive their expected payment. This waiver serves as a protection mechanism for the party responsible for payment, ensuring that once the payment is made, no future lien could be placed on the property for the services or materials provided.
Conditional waivers come in two forms, tied to when you're billing:
- Conditional progress waiver: Submitted with each progress pay application during the project. It waives your lien rights for the work billed in that period, but only takes effect once you're paid for that period.
- Conditional final waiver: Submitted with your final pay application at closeout. It waives your lien rights for the entire project, including retainage, but only takes effect once you receive full and final payment.
In both cases, the "conditional" part is what protects you: your lien rights stay intact until the payment actually clears, so signing early doesn't cost you leverage if a check is late or bounces.
What is Lump Sum Billing?
Lump Sum Billing in the construction industry refers to a fixed contract price for the completion of all work required for a specific project. This means that the contractor agrees to complete the whole project at a specific set cost irrespective of the amount of resources and time spent on the project. The contractor bears all the risk and is responsible for any cost overruns. Lump sum billing is commonly used in construction due to its simplicity, as the entire project is billed one time for one set amount.
Ready to end the fire drill and get paid faster?
