The Construction Contract Admin Blog of StatsLog Software
70% of architects and architectural firms are using general-purpose office software such as Word and Excel for their construction contract administration*.
On the surface, this seems like the obvious choice – you’ve already paid for licenses for your Office suite, you have lots of experience with Word and Excel, and you might even have a nice collection of spreadsheets and word templates that you’ve cobbled together over the years. But what if we dig a little deeper?
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Contract Administration is a complex business. Each day you’re managing requests from contractors, emails from consultants, and issuing reports to clients, not to mention visiting the site to ensure everything is going according to plan. These are just some of the tasks that make contract admin professionals an invaluable part of every construction project. So why not highlight your skill set?
Holdback, retainage, and withholding are all terms used to describe monies withheld from the Contractor by the Owner. In Ontario, holdback is legislated as a percentage of the progress of work, and is intended to protect employees on a project site.
Many contracts also include special funds, and I have given them a different name to avoid confusion. In Canada I tend to use the term retainage for sums that are withheld at the discretion of the owner or consultant. Retainage (or non-legislated holdback amounts) are typically lump sums used to cover the costs of deficiencies, or for the remediation of unaccepted work.
We’re now officially saying goodbye to StatsLog4, the previous edition of our Construction Contract Administration software. StatsLog4 has been a legacy product (meaning no updates or support) for almost two years and has now reached its End of Life stage. In practical terms this means that no new users of StatsLog4 will be validated.
As we approach the two year anniversary of our FIVE Hosted Cloud service, we’re seeing a real uptick in the number of new and existing clients who are choosing our hosting service over running the system on their in-house infrastructure.
There’s no doubt that this is a win for our clients as they get the world’s best construction contract administration software on a service maintained by the world’s foremost experts on the platform – starting at just $5/month.*
We’ve just wrapped up a recent push to improve the performance of some key areas of FIVE, and you may have noticed that the software has been getting snappier lately. Whether it’s startup time, the time it takes to generate PDF files, or the time navigate your projects, we’ve been hacking away at the seconds. In fact, we’ve spent dozens of hours on these improvements lately.
Yes, we’re blogging! There have been so many new developments at StatsLog lately that we’re really excited about and we want to share the news with our clients and everyone in the construction industry.
We’ll be sharing news about new products and features, success stories from our clients, plus tips and tricks to make contract administration more efficient. After all, that’s why we do what we do!