Early Termination Option

The total value of contracted work that has not yet been completed. Used by bonding companies to assess contractor capacity and risk.

Invoicing for work completed to date on a longer project, rather than waiting until project completion. Helps subcontractors maintain cash flow on extended jobs.

A pricing model where contractors are paid a fixed daily rate for equipment and/or personnel, regardless of the amount of work completed that day.

When an operator returns a field ticket for correction before approval. Common causes include missing information, rate discrepancies, or insufficient documentation. Rejections delay payment and require rework.

A contract clause that adjusts your billing rate when diesel or fuel prices shift beyond a set threshold. It protects subcontractors from absorbing sudden fuel cost spikes on long-term or remote field assignments. Negotiate the trigger percentage and index reference before signing.

A breakdown of costs on a field ticket or invoice, separating charges into labor hours, equipment usage, and materials consumed.

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