Filed under Legal Corner

Create a Legally Defensible Document Retention/Destruction Policy

By Steven J. O’Neill The February 2015 NARI Legal Corner blog post titled, Build a Record You’ll Be Proud Of, addressed the importance of recordkeeping for contractors and provided practical guidelines for creating project records.  It showed that the successful management of construction projects requires proper management of a company’s records and other “information assets.”  Information … Continue reading

Build a Record That You’ll Be Proud Of

The management of construction projects involves the management of information. Frequently, decisions need to be made on-the-fly, before the written information necessary to document the decision is available. Under time pressure and with no reliable systems in place, project documentation (building a record) is regularly neglected. Unfortunately, a poorly built record can have serious negative … Continue reading

Preparing your business for sale at retirement

In preparing to sell a business—whether retirement is imminent or years away—the main issue is making sure that you still have a viable business to put on the market at the time of retirement. This topic is vast, but let’s start by covering the front-end basics: form of business entity, maintaining the business, regulatory compliance … Continue reading

Do I have to pay overtime?

Many employers believe that simply by paying their employees a salary they are relieved from overtime obligations. To the contrary, there are several factors that determine whether an employee is exempt from overtime pay. Under the Fair Labor Standards Act, an exempt employee must meet the salary basis test and the primary job duties test. … Continue reading

How to get paid on an overdue bill

A reality of doing business is that, at some point, you’ll have a customer who can’t or won’t pay their bill. Which approach is best depends on the situation, the customer and your overall goals. A contractor’s first and best option is a construction (mechanic’s) lien. The best way to protect yourself is to make … Continue reading