I've been working in construction in some capacity for the past 9 years. I received my certificate (associate's degree) in Construction Management from Triton College, attended construction programs ranging from the Chicago Urban League to Turner Construction to HACIA, and yet I still am learning...albeit the hard way.
I've been losing a lot of money lately dealing with clients that simply do not pay on time. In the grand scheme of things, I understand it's all part of the process of sharpening my business acumen, but my education has been coming lately at the expense of my cash flow, credit, and reputation.
Construction is an industry that seeks to shift as much of its costs and risk down to the subcontractors as possible. It is therefore imperative that subcontractors know the rules of the game before they play. This site, provided by the good people at Wolf, Slatkin & Madison, is a good resource for any sub that wants to brush up on their knowledge of construction law. Use it.
And never sign a contract with a general contractor that says PAY IF PAID. Seek legal counsel before signing anything.