Creates a systematic gap between revenue on paper and cash in the account. A contractor can be profitable and completing work while their statements look thin, which is worth explaining in the file rather than leaving to the underwriter.
MCA glossary
A portion of a contract sum withheld until work is completed and accepted, common in construction.
Creates a systematic gap between revenue on paper and cash in the account. A contractor can be profitable and completing work while their statements look thin, which is worth explaining in the file rather than leaving to the underwriter.
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