Remove Banking Remove Bidding Remove Insurance
article thumbnail

What Is a Certificate of Insurance (COI) for Contractors — and When Do You Need One?

Levelset

To help your business remain viable, contractor’s insurance should be a crucial part of your financial strategy. Insurance also puts other parties’ minds at ease when they want to hire you as a specialty contractor. A certificate of insurance (COI) is a valid form used to prove that you carry the appropriate insurance policy.

article thumbnail

Is Your Construction Team Prepared for Cyber Risks?

Pro Builder

Malicious cyberattacks could impact project designs, bid data, and security system information involved in architectural proposals. While there are several cyber risks to monitor, ransomware and business email compromise attacks are two of the most common challenges we see contractors faced within our roles at Sentry Insurance.

Risk 92
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Construction Bookkeeping Unique Features

Contractor Bookkeeping

Bank Balance - Un-cleared Checks) = Cash. Proactive contractors have systems and cost libraries with pre-priced assemblies for bidding which works in conjunction with Strategic Construction Accounting to provide management with progress invoicing, job costing and job profitability. Bank Account - Escrow Deposits. Cash On Hand.

article thumbnail

Construction Business Owner Blogs

Construction Business Owner

INSURANCE |. But I have been surprised at the number of contractors who tell me that they have bid for jobs at break-even or at a loss. Tags: bidding , business development , change orders , construction , construction management , Dexter + Chaney , John Chaney. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |.

article thumbnail

Contractors Are Renting Rather Than Buying More Equipment.

ENR Construction

Banking & Credit Crisis. --> Companies. The increased competition has narrowed already slim bidding margins, forcing contractors to eke out a financial edge wherever possible. Equipment rentals allow contractors to shift downtime risk while trimming expenses, including licensing, insurance, taxes and debt, among others.

article thumbnail

Unique QuickBooks Setup For Contractors

Contractor Bookkeeping

Chart of Accounts Customer Checks Returned From Bank. Chart of Accounts Insurance Builders Risk. Chart of Accounts Insurance Vehicles. Chart of Accounts Insurance Liability. Chart of Accounts Insurance Health And Dental. Item List Bid Bond Deposits. Insurance Audit Reporting. Bank Reconciliations.

article thumbnail

London Olympics Construction Is Safest in Recent Times | ENR.

ENR Construction

Banking & Credit Crisis. --> Companies. Since Owners are Demanding Designers Carry Higher Insurance Limits, Is a Split-Limit Approach Best? Information is provided on construction projects in following stages in each issue of ENR: Planning , Contracts/Bids/Proposals and Bid/Proposal Dates. Gulf Oil Spill. -->.