What are Trades (Trade Contractors)?

A trade contractor is essentially a type of subcontractor that specializes in a specific part of a construction project. These specializations can range from electrical and plumbing to painting and site preparation. The term “trade” refers to a skilled job, one that usually requires much training and manual skills.

What is a Hard Bid?

A Hard Bid is where the Owner hires the designer/architect who then draws up the project plans. After the plans are approved, the Owner bids the work out to General Contractors either through invitation or advertising the bid. The lowest bidder wins regardless of qualifications.

What is Stored Material?

Stored Materials are the materials and items that are purchased in advance of their use and incorporation into the project. In RedTeam Go, you can bill for Stored Materials on all Pay Applications.

What is a Warranty Letter?

A letter sent to a Subcontractor once they have 100% billed on a project. This letter is a promise made by the contractor responsible for the work performed under a contract that the work performed is fit for the purpose intended and is free from structural, electrical, mechanical and other defects.

What happens in Will Start Soon?

When a GC sets a project to Will Start Soon, a job setup report will be sent to their Accountant with basic project information (contract amount, owner contract information, etc). From this point on, the GC can only move a project forward. In this phase of the project, the GC will create their accounting budget. The GC can also perform the initial buy out of the project. Subcontracts and POs are available in this phase. Once the accounting budget is accurate, the GC can promote the project to In Progress.

What is a Vendor?

A business that sells a particular type of product for material purchases.

What are Units in Bidding?

An area or set of tasks that may be added multiple times to a project such as units in a neighborhood development, apartment, hotel or hospital.

What are Units for a Cost Code?

A form of measurement, such as: HR – Hour, AC – Acre, BF – Board Foot, CF – Cubic Feet, Days – Days, EA – Each, LB – Pound, LF – Linear Foot, LS – Lump Sum, LY – Linear Yard, MO – Month, SF – Square Foot, SY – Square Yard, Tons – Tons and WK – Week.

What are Tracking Items?

Are listed on the Global Dashboard. They are a list of the items that have been sent out to others within the project that requiring them to take action upon.

What are Trade Types?

A category that applies to some line of skilled manual or mechanical work/craft. RedTeam Go categorizes multiple cost codes into Trade Types.