Pay-When-Paid

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

Funds raised or borrowed to grow a subcontracting business beyond its current capacity. This covers new equipment, additional crews, or entry into new service markets. It differs from operating capital, which keeps day-to-day work running.

A contract clause allowing the hiring company to end a service agreement before the scheduled completion date. Subcontractors may receive a penalty payment, but it is rarely full contract value. Always clarify demobilisation costs and notice periods before signing.

The minimum revenue a subcontractor must generate to cover all field operating costs without profit or loss. It includes direct costs like labour, fuel, and equipment. Knowing this figure helps crews avoid underpriced bids that drain cash.

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.

Payment terms indicating when payment is due after invoice date. Net 30 means payment within 30 days. Many operators use Net 45 or Net 60, extending subcontractor cash cycles.

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