Learn how general provisions function as financial safeguards, set aside by companies to cover potential future losses, and the regulations that guide their use.

Carol M. Kopp edits features on a wide range of subjects for Investopedia, including investing, personal finance, retirement planning, taxes, business management, and career development. Michael Boyle ...

Almost every subcontract I see includes some type of “pay-if-paid” provision, meaning the general contractor (GC) is not required to pay the subcontractor until and if the GC receives payment from the ...