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Professional Liability Insurance Explained

Levelset

Professional liability insurance provides contractors coverage from financial losses that happen as a result of their errors, mistakes, or negligence. In that case, professional liability insurance would generally provide the plumber with reimbursement for legal fees, settlements, and judgments.

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Public Procurement of Construction Services

Job Order Contracting

Research Report 271, Construction Industry Institute, Austin, Tx. Understanding Construction Industry Experience and Attitudes toward Integrated Project Delivery.” References: AIA (2007). Ballard, G., and Cho, S. Starting from Scratch: A New Project Delivery Paradigm.”, and Becerik-Gerber B. and Dossick, C.

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The Impact of ASC 842 – The New Lease Standard Is Here

Construction Business Owner

It is time for contractors to get serious about the new accounting lease standard. 02 ASC 842 Leases, the new lease accounting standard issued by the Financial Accounting Standards Board (FASB). The prior accounting standard (ASC 840) only required capital leases to be included on the balance sheet. Accounting & Finance.

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Where Accounting Meets the Field: Sage 300 CRE and Autodesk Build

Autodesk Construction Cloud

Accounting is a critical aspect of any business. But when it comes to the complex nature of construction, accounting is a whole different beast. Because of this, accounting and the project team rely on each other to ensure information is accurate, so the project budget stays on track. Watch the in-depth video walkthrough.

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Key Financial & Safety Metrics for Subcontractor Qualification 

Autodesk Construction Cloud

For one thing, circumstances can change quickly in today’s uncertain construction industry. Formula: (Cash and Cash Equivalents + Marketable Securities + Accounts Receivables) / Current Liabilities . Like the Quick Ratio, Current Ratio measures a company’s ability to pay off its short-term liabilities with its current assets.

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Safety First, Bidding Next: How Safety & Compliance Wins Contracts

Safety Services Company

Rigorous oversight, extensive use of Personal Protective Equipment (PPE), and investment in safety and compliance training drive Bob’s profits well above industry averages. With growing scrutiny on job site dangers and liability concerns, prioritizing safety is crucial in sustaining a competitive edge. Let’s look at why that is.

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#91:  Liability Insurance for a Subcontractor's Defective Work

NH Construction Law

“May unintentionally faulty subcontractor work that damages an insured’s work product constitute an ‘accident’ under a commercial general liability insurance policy?” When the subcontractor installed the expansion joints in the steam boiler and related piping backwards, the heating system got damaged.