CWIP (Construction Work in Progress)

A formal document filed by subcontractors to release unpaid lien claims against a project owner's property. It is typically used when a general contractor fails to pass payment down the chain. Understanding this process helps field service companies recover outstanding invoices through legal channels.

Financing borrowed against a specific project's revenue, not the owner's overall assets. Subcontractors should know this because payment depends on that project performing financially. If the project underperforms, your invoices may be delayed or disputed.

A federal tax incentive that reduces the taxes a subcontractor owes based on eligible capital investments, such as purchasing equipment or machinery. Field service companies can apply ITCs to offset costs on qualifying assets used in operations. This can improve cash flow by lowering overall tax liability at year-end.

A subcontractor's ability to fund ongoing operations while awaiting payment from a prime contractor or client. It covers payroll, equipment costs, and materials during invoice gaps. Strong bridging capacity keeps crews mobilised and contracts on track without cash shortfalls.

A pre-agreed financial penalty charged when a subcontractor misses deadlines or fails to meet contract milestones. The amount is fixed in the contract, not calculated after the fact. LDs can seriously erode your project margins if schedule risks aren't managed upfront.

Short-term financial assistance available to subcontractors facing sudden revenue loss due to site shutdowns, disasters, or contract cancellations. Funding may come from government programmes, industry associations, or lenders. Eligibility often requires proof of active contracts and demonstrated financial hardship.

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