Settling System

The process of tracking all costs associated with a specific job or project, including labor, equipment, materials, and overhead. Accurate job costing is essential for understanding profitability.

A 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.

A signal that a client or project poses serious financial or operational risk to a subcontractor. Common triggers include late payments, scope disputes, or sudden crew access restrictions. Recognising these early helps subcontractors protect revenue and avoid costly disputes.

The average number of days it takes to collect payment after a sale. For field service companies, DSO measures how long between completing work and receiving payment. Industry benchmarks range from 30-60 days.

The minimum amount a subcontractor must charge to cover all project expenses without making a loss. It includes labour, equipment, fuel, insurance, and overhead. Pricing below breakeven erodes margins and can threaten business viability.

A financial tool used by larger contractors to manage costs when issuing convertible debt. It limits share dilution, helping protect company ownership structure. Subcontractors may see clients reference these when explaining capital raise decisions affecting project budgets.

What Happens to Subcontractor Billing When a Project Stalls, Goes Over Budget, or Never Gets Commissioned

You did the work. The project was cancelled, shelved, or never activated. Here is what subcontractors need to know about billing rights, legal remedies, and how to get paid when no one wants to discuss the invoice.

Post-Completion Warranty and Punch Work: Protecting Your Margins After the Job Ends

Warranty walks, punch lists, and post-completion callbacks eat into subcontractor margins. Learn how MSA warranty clauses work, when you can push back on mobilization costs, and how to document your way out of disputes.

Mechanic's Lien Rights for Subcontractors: What to Do When You're Not Getting Paid

A practical guide to mechanic's lien and materialman's lien rights for oilfield and construction subcontractors in Texas, Oklahoma, and Alberta — deadlines, filing steps, and leverage tactics.