Contracts that lock in a future price for natural gas, traded on commodity markets. When futures prices drop, upstream clients often cut budgets and delay field work. Subcontractors should monitor futures as an early signal of upcoming project slowdowns or cancellations.
Natural Gas Futures
Related Terms
Preliminary Notice
Cash FlowA formal document filed by a subcontractor to preserve lien rights on a project before work begins or early in the job. It notifies the property owner and general contractor that you have a financial stake in the project. Without it, you may lose the right to file a lien if payment is withheld.
Estimating Backlog
Cash FlowThe queue of pending bids and quotes a subcontractor has not yet completed or submitted to clients. A large estimating backlog can delay securing new work and strain small estimating teams. Tracking it helps prioritise high-value opportunities and allocate quoting resources effectively.
Spot Price
Cash FlowThe current market rate for materials, fuel, or equipment rentals purchased for immediate delivery. Spot prices fluctuate daily, directly affecting your job cost estimates and margins. Locking in rates early can protect subcontractors from sudden price spikes mid-project.
Base Load
Cash FlowThe guaranteed minimum volume of work a client commits to a subcontractor over a contract period. It provides predictable revenue and helps justify keeping crews and equipment on standby. Subcontractors use base load commitments to stabilise cash flow between project spikes.
RFQ (Request for Quote)
Cash FlowA formal document issued by prime contractors or operators asking subcontractors to submit detailed pricing and specifications for specific field services, equipment, or labour. RFQs typically include project scope, timelines, and technical requirements that subcontractors must address to compete for the contract.
Headline Inflation
Cash FlowThe overall rate of price increases across the economy, including fuel and materials. For subcontractors, it signals rising operating costs that may not be covered by fixed-rate contracts. Monitor it when renegotiating agreements or submitting bids.
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