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General contractors and subcontractors estimate that the cost of floating payments for wages and invoices represents $136 billion in excess cost to the industry, a 36 percent increase from the cost reported in 2020. Findings indicate those costs are passed on to real estate developers and financiers in the form of project delays and higher bids from contractors.
Rabbet customers who add the Send to AvidXchange feature can now easily send coded invoices directly to AvidXchange for invoice processing, payment, and posting to accounting systems.
When planning the project, you predict uncertainty by including a contingency. The change order is the process of transforming this uncertainty into a certainty.
The 2021 State of Construction Finance Report dives deep into how processes and perceptions of construction finance have changed as well as what these processes could look like in the future.
Each year Rabbet surveys commercial real estate lenders and developers to uncover the latest industry trends in CRE. In 2019’s report, we revealed a huge shift towards automation and uncovered... Read More
Developing commercial real estate in New York is anything but simple. And if you’re having trouble streamlining your construction finance processes, then you’re not alone. Because the state requires you... Read More
Contract Simply is now Rabbet. We’re the same company – just with a new name – building the only intelligent construction finance platform. The content of this post has been... Read More
Modern technology aims to simplify all processes and aspects of human existence. And the tasks associated with managing the construction draw process are no exception. Given the fact that the... Read More
Contract Simply is now Rabbet. We’re the same company – just with a new name – building the only intelligent construction finance platform. The content of this post has been... Read More
