The guys will be continuing to part 2 of a 3-part series on the key things you need to address when you are starting your commercial flooring company. This weeks talk is about all things needed to apply for payment and get paid as a commercial contractor.

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The HUDDLE is where the flooring industry can get together and talk about everything! Lead by Paul Stuart from Go Carerra who is joined by Daniel and Jose Gonzalez from Preferred Flooring.

https://www.preferredflooringmi.com

https://www.stuartandassociates.com

family welcome to the Huddle coming to you every Tuesday to discuss maintaining

for progress in your flooring career every Tuesday 3 P.M Central join us uh

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commenting uh you know commenting let us know what you're thinking and questions

you may have and we'll we'll uh incorporate that into uh this podcast so

with me as always Mr Daniel and Jose Gonzalez from preferred Florida

Grand Rapids Michigan and every time we start I'm always looking down because I'm sharing it to groups right now I was

gonna say that everybody thinks he's probably always ignoring you the first couple minutes no he's just uh piping us into the

interwebs all right well today is um a Bittersweet this whole series is

somewhat of a Bittersweet kind of uh subject line it's

it's uh pay applications and uh well it's really about whether or not you you

know giving you some information on uh whether or not you want to actually

become a commercial flooring contractor but uh uh this this episode is on pay

applications and payments so we all like to get paid uh but in the uh commercial

construction world it's a process let me put it that way

so just to introduce construction accounting and and what what you have to

do uh there's two main forms one's called the g702 the other is the g703

the g702 is a pay application and the g703 is the schedule of values

we'll start with g702 um it's an application for payment

okay so remember that application not an invoice okay that means that it can be denied or

changed because you're applying for for payment um it's

uh decide its whole design it was done to show the total

less uh you know let's say the original contract amount

net net amount of change orders the new contract amount uh less retainage less previously build

and then your new uh payment amount back

at the beginning here I was talking about the g702 and g703

and the g702 being the pay application and the fact that it's a pay application

and not an invoice so it's an application for payment right so that

means it could be changed or even even um uh declined or denied

uh so the the whole design of that pay application is to uh show that

what's your total contract amount is plus any change orders uh positive or negative ads or deducts I

should say uh and then less then show the retainage amount let's say

it's 10 and then the billable amount because you can't bill retainage until

the end of the project so it takes it out at the very beginning there and so you then have less your retainage less

previous pay applications and then your new Total

so as a quick thought exercise let's say you have a hundred dollar uh project a

contract amount you get a 20 change order that makes your new contract them out 120 bucks less retainage of 12

dollars uh would leave you at 108 bucks if that's correct math

so now you have a hundred and eight dollars and say you've built 50 bucks before that leaves you with 58 dollars

uh to available the bill against and

um so that's how that math works supporting that and right with it is the

g703 the g703 is the schedule of values and it's just that it's a it's a

schedule of the value of each item on the project so so you have carpet

ceramic and sheet vinyl so you'd have carpet materials carpet labor ceramic

materials ceramic labor resilient materials resilient labor and then as

you buy your materials and you store them in a uh acceptable spot you know an

acceptable Warehouse that's bonded and insured or at least insured with those

materials listed on your insurance as uh insured in your building

you can bill for what's called stored materials so you could build say for example very often in commercial we buy

all of our materials for a project and then we bill for all of them as they come in so your schedule values would

Bill 100 percent for your carpet materials 100 for your

ceramic materials and maybe you don't have your resigning materials yet so you don't bill for it or if you have half of

them you Bill for half of them you know 50 percent and then your next pay app typically is

just kind of a standard flow you'd be billing for the rest of your resilient materials right now you're 100

but you have all your labor line items that are left to be billed and so as you complete through the project maybe month

that second month that you're able to build because in commercial world you can typically only Bill once a month on

a given date and that's typically in the contract go back to the other podcasts on contracts and uh review that

but at the end of the day the goal for the g703 is so when you

Bill your client your general contractor they can then Bill their uh the owner and show your

schedule of value showing the owner what materials they're paying for

um often you will be asked for either invoices or some proof that you have the

materials on site in a stored bonded or

insured Warehouse um so the idea here is that you can progress bill for some of your materials

or all of your materials and then build your labor as you go so if a job's

um phased out over the next six months or it's going to take six months to do the project you can bill each month

and you know keep the cash flow coming on the following month as you're as your payments come in so

let me see what else do I want to say about the g703

yeah yeah Clarity on on billing uh and exactly

what you're billing so a quick story of a company I started when I was 22 a

flooring company with a partner uh he was doing the office work and I was doing right in the field and managing

all the installation uh we had gotten behind with our our customers from a payment aspect they

hadn't paid us in a long time we're owed a lot of money

um obviously Banks and vendors were barking down our necks and and uh

ultimately me and our accountant went in and started reviewing and found out he

was just sending invoices well with an invoice they're not going to pay you

um they need the g702 and the g703 and that's an AIA the American Institute of

Architects forum hello Daniel hey you're back third time

well maybe third time's a charm I don't know I uh it keeps it keeps crashing so

if it does again we'll we'll just have to post uh we may push

uh this this subject to next week and reshoot this I don't really know 100 to

be honest with you how how well she's going to be able to Patches all together with three different showings but

I just um as I was waiting on you uh you guys wasn't sure if he was gonna be able to

join again but I went ahead and went through kind of the overall uh g702 and g703 it

was kind of going through a story of the first company first flooring company I

started and the fact that my partner at the time had build a bunch of work but

it was just invoiced not on pay applications and once I brought our

accountant in and I kind of took over I started calling all the clients and

asking them you know why money hey you know I showed that you owe us this amount of money and it's 60 days past

due and they're like we've never received a payout from you and then I come to find out he was just

sending uh invoices so the the point here is they're not gonna

you know regular commercial construction where you're dealing with the general contractor they're just not going to pay

you without a pay application uh it's designed to keep track of where the flow

of the project is and what has been built for and what has been paid and what if it's not so I talked to some

Architects that say that they look at pay applications it's going to actually go to the job site and they're like there's no way this is 80 done

yeah it's all based on percentage of completion and uh so I was kind of

giving an example um for your scheduled values it's all on

percentages so let's say you Bill a uh project you got a contract

that's a hundred bucks I kind of went through a similar scenario but

say yours you got a hundred dollar uh contract and you Bill for 20 bucks on

your second payout So you you're billing twenty dollars on

your second payout and you've already built for 50 on your first payout

so in essence you're going to bill for seventy percent of the contract amount you build for 50 already you may have

already been paid for that but it always works off of totals and works back so

if you're you build for 50 the first time you're billing for 20 this time that's 70 percent complete of the

contract amount and that's that's what it's going to show on your schedule values is percent of complete

um like you just said it's an easy way for Architects and general contractors kind of walk the job and say I'm being

billed for 80 complete on my carpet labor line item

but they're not even halfway done so it's an easy way for them to find out quickly or compare quickly

your pay application versus reality

um one other note and this kind of goes back to the uh contracts but most of the

time you can build you can project through the end of the month so if your pay app is due on the 20th you can

project through the end of the month both materials and labor that you believe you're going to have in your

insured Warehouse or installed and you can bill for that amount so

um that's just uh I would caution to be

particularly careful and make sure that you are as accurate as possible

um a lot of we've had plenty of projects they want to come to our warehouse and see the materials or they want to walk

the job after we build and make sure that we've we're not over billing

um obviously contractors in all regards like I don't want to pay

my sub for work that's not complete they don't want to pay us for work it's not complete so it makes a lot of sense

um I'll kick it over to you Daniel do you what's do you have any in other

information insights about the complexities I I kind of lined it out

but yeah I when we when we first started doing it like it's all brand new to me

so uh the one thing that I did was call the accounting department to where I'm

building and it's like how do you guys want this filled out and uh some of the

projects were you know really small they were just one day projects

and they're like just put everything on one line item it's fine but then you get into the more complex

stuff when they're like I want it broken everything broken out by single line item stuff like

so it's it's real particular in who you're working with

yeah I've had them where they actually send a example of the schedule of values

and want even like Freight and stuff broken out which has

always been silly once or twice but for the most part it's

like if you have four different products if you have carpet resilient you know ceramic tile and and epoxy on a

job they're going to want to know sorry on every single one yeah ceramic

materials ceramic labor carpet materials carpet labor resilient materials

resilient labor and um sometimes they can even get more picky than that but it those are more

particular projects I think that I've found where uh maybe a school board's

trying to review it and they want to really micro like I've had to break out

transitions and stuff and most of the time the transitions we just lump in with if it's rubber transitions it's

going in there resilient if it's tile transition that's going in the tile and

don't worry about it but uh we have had them like where's your transition

materials in labor all right I'll break it break it down you got to go redo it yeah

yeah that I just made it a habit since we we're not dealing with like huge

projects that take a ridiculous amount of time so I'll I'll break everything out but I

know once you get into these projects that can last over a couple years those line items start adding up quick

yeah and change orders and all that go on these uh so you know just remember

whatever is on whatever you're going to bill for has to be represented on both forms both on your g703 and then it ties

out with your g702 so the total should be matching

um another note is your g702 or your

payment application has to be notarized so if you don't have a notary uh you

should probably plan on going to your bank every time you Bill that's another thing we have three notaries in our

office so we don't have to deal with that anymore but I remember going to uh Dylan's which is a Kroger grocery store

uh three or four times a month getting pay applications uh notarized now this

is back in the early 2000s but uh yeah you know you gotta have each one has to

be notarized as well so it used to be easier because uh we still go to the bank but I used to be able to just walk

in and be like hey can I get this notarized real quick and I was like since covert note got to make an

appointment wow really yep

um one of us again to become a notary yeah and a spouse like they don't like your

spouse my wife works for us she she's a notary so when when she notarizes if

she's the only notary then rco has to sign the payout because she can't

notarize for me oh so

um well I I will admit I've lost some steam with our crashing and back and

crashing back but from a I feel like I've covered the basics of what a g702

and g703 is and why they're used

um and well you know the purpose behind it because I know I was when I first

started doing them I was like why can't I just send them an invoice well because what percentage everything

has to do with percentages in construction and County what percentage

complete are you and the forms the g702 and O3 show that very

clearly versus say an invoice that may or may not even show the total contract

amount depending on how you have it set up in your you know a time where you we used QuickBooks uh or Peachtree one of

them we use both of them at one point but you know it makes it easier for

everybody to know what's being built for and and uh the percent complete and that

goes right into your work in progress which is a piece of your the whip as

it's called in accounting and um that's a whole nother rapid hole to

go down and uh would probably take a whole hour but uh for simplicity's sake

a whip says of all your projects how much complete how much of the cost have

you incurred and so if you have a hundred dollar job and you had fifty

dollars in cost budgeted or figured as the project

but you only ended up spending half of that well you you have to do a budget adjustment

to make it right otherwise it thinks the whip is gonna say you're only you know 30 complete

not not the because it's all based on your cost uh let me see if I can explain

that easier if you if you build a hundred bucks on that hundred dollar contract

the the construction accounting is only going to let you recognize if you've

only um incurred fifty percent of your cost it's gonna only allow you to recognize

fifty percent of your profit so if you in in indeed save that money then

you do a budget adjustment and it's back to okay I spent all 35 dollars it went

for fifty dollars of expected expense 35 so then you can break it then it breaks

even you you've you've spent all 35 bucks now you can recognize all of your

profit but um it's a way to keep

your accounting accurate from over build or under build scenarios it

works the other way too if you've incurred fifty percent of your cost but you're only billing for you know

a lower level of that say 30 or something well you're under a build and

let you know that but all that's placed together the point is in construction

accounting everything is tied together um and these two most important

documents again the g702 pay application and your g703 scheduled values

those are the most important you got to get them right they got to be accurate that's how you get paid

um so we have separate people that do that like that are really good at making sure that they're accurate

yeah it takes some work to get used to filling those out especially because we still use QuickBooks so we're

we have to do the the payout and then also enter everything into QuickBooks

yeah yeah when you get uh and you knew that

we did that for a long time and got I mean all the way probably up to six million dollars or so before we got a

accounting system that spent out the g70203 for us but if you're filling them

out offline or if you're still working in QuickBooks or you're doing some other uh non

I'd say project costing you know real real good system uh

accounting system for project costs uh then you do it offline you fill out g702

and O3 then if you did it the way I did it you'd always do that first I'd get it accepted then I'd enter in my accounting

system otherwise I was going back in and correcting all of it right

yeah all right well what else we got on pay

apps uh sworn statements Lane releases uh new waivers and uh

go jump in on sworn statements they just want to know everyone that all

of your vendors pretty much and how much you owe them and are they paid and if

not how much you still owe them so

I I think that probably happens different different areas uh ours is

mainly they want Lane waivers and we'll get into that next week when we're talking about how to get paid

um but Lane waivers as a lot of the pay applications want them with it or the

sworn statements that preferred flooring is paid uh up through you know July 31st

2023. and if your pay app is for that pay period Then

you should get through uh a lot of our GCS want the vendors to list their

projects specifically which is where side marks and all that kind of stuff comes in when you're placing uh your

your orders with your vendors but um

yeah it's it's a pain to get to get you got to get these things right and having

that sworn statement or a a waiver of of leaned yes we've only had one project

where they wanted waivers from every single vendor um and typically the sworn statement is

just I fill it out and they just accept it because the sworn statement has been notarized too so if I'm lying that's

yeah that's legally on me yeah yeah those those are a lot nicer than getting

lien waivers because then you're someone else's like

Mercy to get you the lean waiver we've had them take a month because someone's

sick and and especially over covid it was a nightmare to get lean waivers

people were working from home and not working and oh I can't you know someone

would say at our vendor I can't do anything about it only this person can

some can sign Lane waivers like well you're better call them up and get them

I don't know what to tell you I've got to get paid and it's all you guys want me to pay you but these Lane waivers are

a big piece of that so I need you to get those back to me as fast as and

efficiently as possible but it's always a fight it's just it's tough because you

know Distributors used to and manufacturers in new staff to do that back in you know 20 years ago lien

waivers from vendors was not a thing even when I first got into business never had to do it it was just a matter

of show me proof you got my materials basically

and um I think vendors started filing liens when companies uh honest and then gc's

and Architects were like well we got to cover that risk and that's where lien

waivers from every vendor comes in yeah I don't it was a nightmare to get

some of these vendors to actually do it too yeah notes right now guys because

honestly this is this is Daniel's uh uh category for for us right like I got

bits and pieces here but yeah it's um well hug your brother afterwards

because it could be a real pain in the ass to get it I hear about it all the time and yeah

and then getting it paid is a whole nother thing but the first step is getting these these documents in

accurately along with your sworn statements or your

um or your waivers of lean from from your vendors it's almost like because When contractors

um are after year they accept your pay application and then they they send it

send us an email because a lot of stuff is electronic payments right and it's like this is gonna post to your account

here's the lien waiver we'll send the money when we get this back and it's like it's almost like we should start

doing that to almost every payment for our vendor it's like here's your money send me a lien waiver that's not a bad

idea it's not a bad idea it's just like like a whorehouse right here it seems like a

ton of paperwork it is but it's it's a ton of paperwork

that's a good idea Daniel I wonder if we could start just saying here's a check

here's the lien waivers that for projects attached to this check please sign them

and we'll release a check bam

that's not what you get them up front and then file them and then when we eat them we already have them

right then they'll be way quicker to be to get you something signed then

if they already had the money yeah that's most of it right they already have your money for that job and then it

it happens one or two believes you send your lean waivers in with your pay applications

and uh also side note they have a form in most uh it's a separate form

for a lot of the general contractors that have a list of your subs and suppliers and you list the dollar figure

on there and what's remaining to pay to each one of them as well and a lot of times you gotta have Lane waivers from

your subs which is why go Carrera has that as an automatic you know get a lien

release on every single payment so you have them uh

the that form is typically

uh not with your payout but it's when you get a check or they got a check ready for you and they're like hey we

need this filled out and signed so yeah there's there and each GC may have

different insights as what are different rules just remember this it's all about

risk mitigation that's what construction is all about how can

and a lot of our like conversations on this podcast has been

around the troubles that that causes when you're just like how can I mitigate

or minimize the amount of risk that my company takes on I know we're we said we're going to

talk about lien waivers later but Dwayne says as an installer we get asked to

fill out lane waivers before we get paid does that put us at risk of not being legally covered and I think that's where

you got to put in there's numerous types of lien waivers there's conditional and

unconditional right so conditional is what you sign before you get paid it's I waived my rights to

lean when I get this payment yeah unconditional is boom I already got paid

I waived my Lane yeah yeah there's different types of lean waivers a lot of the uh a lot of

the ones that companies will have you sign um you just if you're working with the

GC you really need to make sure you're signing the right one um we have plenty of times how to want

us to sign an unconditional and we refuse until we have a check like I'll come to your office and sign

it and you hand me a check but I'm not signing it and sending it back getting a check and there there was a

when we were subcontracting for for our company they they sent us an unconditional

and they're like here sign this and get us get this back to us and we'll get you a check and we weren't done with the

project yet and it was a full unconditional and I'm like I'm not assigning this

and like she was really upset with me and I said you can be upset all you want

I said but I'm not signing this I said I'll send you a partial conditional I

remember that yeah that's another uh term that is used is partial lean waiver

so you can have conditional partial full traditional final there's a lot of

different types they some of them mean the same thing with different verbiage but essentially you're gonna have to

sign something each time you get a check um and obviously it's going to be either

a partial or a conditional lien waiver uh unless you are done with the job and

100 percent yeah there it's this isn't meant to

scare people away I just know what I went through was he double hockey sticks when I first started trying to figure

this stuff out and I just wanted to provide you know we all

wanted to provide a resource on which you can kind of plug into an episode

watch a little bit of something and learn enough that you at least know what you're getting into this isn't as easy

as just printing off a invoice or you know writing the invoice out on a piece

of paper in most regards some really small General Contractors they may let

you do that kind of stuff on really small you know tenant finish kind of

thing or something but any of your major commercial jobs you're going to have to go through this process so be prepared

make sure you have you know somebody that understands accounting helping you do this I would have never figured it

out on my own uh I've done it for years and and understand it really well now

but when I first started I had to have an accountant come in and like how do I fill these out and I didn't have the

balls to be honest with you then just call my clients say I have no idea how to fill these out you know and and

either did I at first right except for there was a point where I'm just we were

I think we were in a meeting at the chamber and one of the

um it might have been one of the minority meetings where they're trying to get us smaller businesses you know in

there and they're like anytime you have any questions that's what our our

billing department is for like you may think that it's a dumb question

but that's what they're there for it's like they're there to make sure everything is

filled out because we don't want to hold your money yeah I view your money

I wish that would rang true to be honest with you I I see

there are various crap that holds up payments but I I

think in general most people do but you know there's you got to be careful who you work for

um but here's what's getting this right is Paramount to getting paid on time or

getting paid as close to on time as possible you don't want to be the guy holding up

pay apps I'll tell you that they'll just go on without you if you miss that pay app you've got to wait a whole another

month to even turn your bill in I've been through that

right and Dwayne asks if they where they say it and stuff so I'm just going to

print one out real quick and put it on the screen so that way he can see what what our

waiver looks like okay all I keep hearing is done

so I'm going to cover

the job but you can see right at the top partial

conditional because we did not receive the check yet

and then goes through and so as long as you we make it very clear

that like right at the top this is partial partial conditional full conditional

you know essentially you're releasing lean on that dollar figure of payment

yeah so if they don't pay you the next time you can only lean what they did not

pay you not the full contract right that's the idea behind partials and

conditionals so essentially it's all again about risk

management and tracking where the money's at who's been paid what how they've been paid all the information uh

is and you know frankly g702 and O3 are really good forms for that but they are

they they're not once you're used to them I don't see them as complex but it does take a

minute to get used to them because you're always working from a total like if you have a hundred thousand dollar

job and you build four times on that it feels weird to put total completed

and stored to date when all I want to build is another 10 grand

but I got to put 100 you know 100 000 job maybe on eighty thousand dollars then eight thousand of that's retainage

then I built you know 70 000 previously leaving me my ten

thousand dollars as this period payment so it's working it's always working off

the total with percentages so it can be confusing but once you get used to it it's not it's not really that

complicated it's like uh right it's like balancing a physical checkbook the dollars and cents and then the percentage of the project being done

it's like just try to break it down into dummy terms for people like me um and I almost wonder like uh

so like if I purchase a house why why can't we use these other these programs like DocuSign but they don't have

anything like that instead of getting an ordery um like what is the why can't it be

utilized do they have something that can be utilized like that it's all red tape more than anything I

mean there are plenty of uh companies that you use DocuSign for their lien

releases um I wouldn't say

a lot at least from in our area but some do but never on the big government work

or really like bigger commercial work it stays in that older kind of methods

they want to sign they want to notarized in the paperwork you know they

there's some that you have to have wedding you cannot email it like there's

stuff like that yeah yeah I remember that yeah

still with notaries it's like if if they don't have this stamp and everything

yeah so I don't want to scare everybody away but I didn't like everybody to

understand what you'd be getting into and I know we didn't go through and show what they actually look like but this is

702. so it is like the total on there and

then the change orders all the way down and then

the schedule of values 703 and this was one of one of the ones that

wanted every single line item in there yeah you do trying to block the light

yeah so it's like but as you can see like right there

that's the percentage lines yeah so they they want to know percentage on every

single line item yeah that's a very good example thanks

for showing that because it's it's a matter of

uh again not to beat a dead horse here but it's their way of risk management and

um the fact is is if they don't know how much they've built you built them for

previously and the retainage piece all that mixed in uh but if they don't know

what you've built for previously and they're going to go dig it up on another document what they're trying to do is

streamline it and these I you know I gotta say again g702 and O3 both are

pretty streamlined they work together so if you've got an accounting system that will spit them out Kudos because it does

make life a lot easier our billing department just says what percentage of they'll send us their schedule values

and ask each pm to put the percentage of complete on each line item and then they

they just fill that amount and it spits out the g702 NO3 automatically that's

structure that's the system we use but there's plenty of others that do the same thing so

how do you guys gauge your percentage of um project complete is it material used or

do you guys have uh use your takeoff program to be exact it's a general question you know that

we will bill you know power much material we got in and it's you know if

we had 50 000 to put lvt and we only got 25 we're going to build 50 on the

material line item um you know typically the kind of

um schedule for this kind of thing is you know if you've got a larger project you're probably going to be billing for

your early materials first you know your ceramic material might be your first

billing only then your second billing may have a mix of ceramic labor and your

resilient materials finally came in so maybe you Bill 100 on your materials uh

for ceramic and then you know 100 on resilient but only 10 percent of your

ceramic labor and then the next month it comes in and you do the same thing but it's maybe you

got the rest of your materials in now you're Building 100 on all materials and

you know 75 on your ceramic labor and 20 on your resilient

that's the only way you can stay and get progress payments and keep track of what's being paid and where it gets

really confusing even on a spreadsheet if you just do that so I understand the need for yeah a system like this but you

just explained it really well on why the system is needed because there's no guesswork at the end is really what it

is you're tracking everything progressively and small idea it'll be easier but larger ones whoo yeah ideally

you want to Bill them and they understand what you're billing and they process your payment but or process your

pay application but there's plenty of times when you know they're like

we've had a few times where they're like well your billing is 100 on your materials and uh

you don't have any installed so we're not gonna that's just materials some you

know like some GCS want us to put our only build in for materials as they're

put in place in different parts of the nation that's a requirement where it's

in place materials and not stored materials so you can't even build for all your materials until you put them in

place that's crazy I won't do work in those areas because what happens if someone

steals it you'll go broke dude like on a big job you imagine that that's why it's

real nice uh to not be on those super huge projects like that so we're we're still

um to the size where it's a normal project for us is you know

hundred thousand dollars ish and you think man that's a that's a huge project but really that's only like three weeks

of work if that right yeah still a good size project but

you know done right you can do it you want to pay period right that's what I mean like it's either one or two two of

them and that's it it's not like these huge jobs where it's like every single month for two years you're just

trying to nibble away at it yeah yeah I I've got about you know I've got a mix

of jobs but we've got several of those were hospitals or big Schools they're

building it and they're turning over you know the clinic of the hospital first

and so you got to get that done but then then the or then whatever or the

emergency department they're building these phases and building it out I think the most pay apps I've had is 13

or 14. months um

Maybe I should say 13 or 14 pay apps but there's months we didn't build anything

so it you know spanned across several couple two or three years we've had jobs

and they're a pain and if you try to go back to one that you build and the last

time you build it because you know you finished the first area and the other area is not ready for you for another

three months and you go back those those forms really help you kind of stay we do

have one that's like that right now and it's a hospital because the other day he

was like you should go for this and I'm like but we can't close everything out

yeah because we still got another phase that they keep on pushing back and it's been over a year I think

yeah yeah and it's just one of those things like I really just want to get that off of my board like it's been

hovering there but I know and it's like with the material they're they're like

oh yeah there's nowhere to store it on site or um it was I don't want to store it on site

because there's like four or five different construction companies in there and they just start taking

whatever is in the storage so I'm like I gotta put it somewhere they're like you know what we have an off-site storage

just bring it over there because I'm not whole I don't want to hold on to this for two years until you guys decide it's

ready to go yeah we we have uh some projects still

you know the storage of material is a big thing make sure your Warehouse is either insured for those materials and a

lot of times they make you list it on your like their Project Specific in the

amount that of the the value of their materials

um again risk management they want to know if your building burns down that their materials are covered in that

right catastrophe so all right well I think we've beat these two forms up and the subsequent

forms that come across and sorry for everybody that we had some technical

difficulties I should I shouldn't say we uh Zoom just crashing uh we finally got

it up and going so we'll Pace this together as best we can to give you the best episode we can on the GoPro Youtube

channel otherwise uh you may get to watch some bloopers on other other areas

so I I started doing something else right away and they got a text we're trying it again I'm like oh we figured

I'd give it a third shot and if it didn't work then we would reshoot but uh hopefully everybody got some some good

Insight on just what what these forms are why they're

required and don't try to fight the system I also did that I was a jerk and I was like you guys owe me money and you

know it just pay the invoice well and they're like look at look at the

contract it says that you're supposed to be on these phones very clearly Mr Stewart exactly what you're supposed to

do you don't understand something it is frustrating when you just don't understand it because it's real easy

like you owe me is that here you owe me what are these for yeah

you can't deny you have carpet in the building that did not have carpet before you didn't magically happen just pay me

but so don't try to buff the system just follow the rules uh as always if you if

anybody has questions about how to look at a g70203 reach out to one of the

three of us we're happy to you know um help walk you through it

um any of the if anyone needs it actually I actually have it in a Excel

form so yeah so if you need one hit Daniel up because he's got it in Excel which makes

uh both forms much easier when they automatically calculate for you and

you're not sitting there writing it down doing the math so no and then when I first got the Excel

version it was about five or eight years after we started

what that was a big upgrade right there I I actually wrote it myself because I

couldn't find one and I didn't want to pay for one because let's just say that I didn't want to pay for it you can't buy them but we our

family has a really big problem with that like he figured stuff out in the technology side that he doesn't want to pay for and

I just try to figure it out with my hands and tools and I don't pay for that so I'm just gonna learn how to fix it I'm gonna learn how to build it

well you get there in the end so reach out to Daniel if you uh would

like to uh get an Excel version um and then just reach out if you have

any questions with that gentlemen we'll break this huddle and we'll see you next week

sounds good thank you