ITC (Investment Tax Credit)

A structured process where completed sections of a project are formally transferred to the client in stages rather than all at once. Each phase triggers its own inspection, sign-off, and often a progress payment. Subcontractors must track completion milestones carefully to avoid billing delays.

Rescheduling occurs when a client moves a confirmed job to a new date, disrupting crew and equipment plans. Subcontractors should have rescheduling clauses in contracts to recover standby costs. Repeated rescheduling without compensation can seriously damage a small operator's cash flow.

A measure tracking changes in the costs subcontractors pay for labour, equipment, fuel, and materials over time. It is used to justify price adjustments in contracts with escalation clauses. Rising index values signal shrinking margins if rates aren't renegotiated.

The interest rate set by the Bank of Canada that influences borrowing costs across the economy. When it rises, lines of credit and equipment financing become more expensive for subcontractors. It also affects how quickly clients pay invoices, tightening cash flow across the field service sector.

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.

A profitability measure that strips out non-cash costs and one-time charges, showing true operational earnings. For subcontractors, it reveals how much cash your field operations actually generate. Clients and lenders use it to assess your financial health before awarding contracts or extending credit.

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