That is a good one. You do need leverage when it comes to these matters.
An owner of a large project will keep what is called retainage out of every prime contractors monthly payment requisition, used to be about 10%, so for all the progress payments this is done until the end of the job, so on a large contract it represents a significant amount that a contractor needs, can be a good chunk of the jobs profit too. This is done to insure that all punch list items are completed to the satisfaction of the owner, close out items are done, it gives the owner some leverage until the job is 100% accepted/closed out and can be held for 1 year or more depending on the contract, until the job warranty expires in some cases. Funny though, contractor does not have the same leverage as an owner in some cases, smart move the piece of glass was, owner must have been really dumb, not to look into the flue.
I bought a cheap car for a co worker once, gave him the car, but kept the title, he was a budding alcoholic I came to find out, many DWI's later I heard. Never was sure how he got plates and stickers without transferring the title, but he ran the car, for about 6 months, never paid me, but when he wanted to sell it, he came to see me, had the title under the seat of my truck the whole time, dug it out in front of him and gave it to him when he paid me cash, had he known it was there and we still worked together I'd bet he would have stole it.
It's all about leverage, you always need that, good to have that in most situations like these.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Buying your first tractor: Choosing the right one - by Chris Pratt. They cost less than the tax on a new tractor (at least where we live). They have the weight to do the job. They are simple and understandable. They even have a history and can be restored to become a major source of pride and enjoyment. But how do you know what to buy and how do you make the right purchase? There is a surprising number of machines available in every shape and size imaginable. Like most things in life, your needs have a lot to do with wh
... [Read Article]
Latest Ad:
1958 FORD RARE 4x4 801 TRACTOR, ELENCO/FRONT DRIVE, FRONTLOADER AND WEIGHTED REAR WHEELS, FIVE SPEED, LIVE PTO, GAS ENGINE, NEW REAR WHEELS AND TIRES, ENGINE RUNS.
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
