Tax-Exempt Revenue Bonds

A contract where a client guarantees a minimum percentage of hours or days your equipment and crew will be engaged over a set period. It protects subcontractors from revenue gaps during slow cycles. Rates are often discounted in exchange for that guaranteed volume.

The point when a project is complete enough for the owner to use it for its intended purpose. For subcontractors, it typically triggers final invoicing and starts the defect liability period. Holdbacks or retainage are often released shortly after this milestone.

A reduced invoice amount offered to prime contractors or clients who pay before the standard due date. Common terms like 2/10 Net 30 mean a 2% discount if paid within 10 days. Subcontractors must weigh the cash-flow benefit against the revenue they give up.

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.

A contract provision allowing subcontractors to adjust their billing rates when fuel prices rise beyond an agreed threshold. It protects field service companies from absorbing significant fuel cost spikes on long-term jobs. Without this clause, subcontractors carry the full financial risk of volatile diesel and equipment fuel costs.

A pricing model where the contractor agrees to complete a defined scope of work for a fixed total price, regardless of actual costs incurred.

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