Building Radar

NOVEMBER 18, 2024

These include expenses like payroll taxes, benefits, insurance, and other indirect costs understanding labor burden. By calculating the fully burdened labor rate, contractors can ensure that all labor-related expenses are accounted for when bidding on projects fully burdened labor rate.

Construction 52

Construction Insurance Profitability Bidding 52

Construction Dive

JANUARY 22, 2025

Among the startups are companies that help builders bid on government contracts, streamline communication via a WhatsApp-like interface and verify insurance.

Insurance 103

Insurance Bidding Contract 103

Construction Marketing

OCTOBER 28, 2018

These meetings provide a perfect opportunity to verify their license and insurance. Always ask for proof of insurance. You should also call the licensing authority and confirm that their insurance is valid. Remember, a contractor with the lowest bid is not necessarily the best. Settle for the best contractor on the list.

Contractors 169

Contractors Insurance Commercial Bidding 169

Construction Dive

JULY 19, 2023

The contractors have posted bid packages to renovate the 540,000-square-foot North Office Building at the insurance giant’s Milwaukee campus.

Office 108

Office Milwaukee Insurance Bidding 108

Constructonomics

MARCH 3, 2010

Over the past six months, I have had the wonderful privilege (ahem) of bidding about 15 public Requests for Proposals. However, in the world of public bidding, while a municipality may not want to take a chance on an unproven no-name either, the law simply states – they have to. I take that back, they don’t have to.

Bidding 151

Bidding Overhead Pennsylvania Union 151

Construction Business Owner

OCTOBER 26, 2011

INSURANCE |. I know a lot of contractors are getting into bidding season, and this got me thinking about communication. Communication is an important element throughout any construction project, but given the time of year, I thought I’d focus on the communication difficulties faced during the bidding process. STRATEGY |.

Construction 159

Construction Software Software Bidding 159

Wolgast Corporation

AUGUST 1, 2024

I chose to discuss Insurance Claims in this blog because when the time comes, some business owners have never been through the process and may not know what to expect. The number one tip that I can give you is to call your insurance company in all circumstances (after you call the emergency services if necessary, of course).

Insurance 62

Insurance Claims Commercial Accidents 62

Construction Business Owner

AUGUST 18, 2011

INSURANCE |. And that seemed to strike a chord with some of you, so I figured I’d talk more about government jobs, and what you need to be prepared to bid on them. In a way, a surety bond is like insurance; it is a three-part agreement between the contractor, the organization requiring the bond (e.g. STRATEGY |. MANAGEMENT |.

Cash Flow 168

Cash Flow Software Software Accounting 168

Levelset

AUGUST 5, 2022

Construction insurance can be confusing. Each contractor and party to the project has their own insurance, which may or may not be adequate to protect the work they’re performing. Learn more: What types of insurance do contractors need? Learn more: What types of insurance do contractors need? CCIP vs. OCIP insurance.

Insurance 52

Insurance Liability Claims Construction 52

Construction Business Owner

JANUARY 5, 2012

INSURANCE |. Evaluate Bidding Strategy. There are fewer projects to bid and what projects are available are being bid by more people. Consequently, the bidding climate is very competitive with some work going to people bidding below cost. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |.

Construction 120

Construction Bidding Software Software 120

Constructonomics

OCTOBER 3, 2010

Surety bonds offer financial protection similar to insurance, although there is a distinct difference in how they work. While insurance policies are written with the understanding that some claims will be made, surety bonds are written to prevent fraud and other potential problems—with the intention of avoiding claims.

Contractors 140

Contractors Regulation Insurance Claims 140

Construction Marketing

JULY 11, 2022

These are bonds required for you to work or bid on specific projects and include bid bonds, performance bonds, and payment bonds. The state or federal government might require you to post a bid bond before you can submit a bid to work on a public project. Are Surety Bonds Insurance?

Contractors 156

Contractors Legal Bidding Contract 156

Construction Business Owner

DECEMBER 9, 2011

INSURANCE |. In fact, project managers should worry about implementing more safe practices because it can affect the way they bid on jobs. Fewer accidents also mean lower insurance premiums, which mean lower labor costs. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management.

Construction 136

Construction Insurance Software Software 136

Construction Cost Estimating

JULY 14, 2014

The contractor proposal bid form is used by a contractor to provide a construction proposal. In this form a neat, prearranged bid is written on a proficiently designed bid form. All the taxes, bond premiums and insurance under "Work Scope and Details are also included in the form.

Bidding 45

Bidding Contractors Overhead Materials 45

Levelset

APRIL 28, 2022

Subcontractor default insurance is one alternative to a surety bond that works to protect a contractor from the financial burden when one of their subcontractors defaults. Related: 16 types of insurance coverage for contractors. What is subcontractor default insurance? How SubGuard insurance works.

Insurance 52

Insurance Contractors Claims ABC 52

Job Order Contracting

NOVEMBER 17, 2016

Procedure for Publicly Announcing Interview Scores and Open Bids. Letter of Invitation to Submit Bid and Interview-Phase II. Preparation of Bids. Bid Guarantee. Preparation of Bids. Bid Guarantee. Acknowledgement of Addenda to Invitations to Bids. Submission of Bids. Bid Results.

Contract 100

Contract Bidding Documentation Drawings 100

Job Order Contracting

FEBRUARY 24, 2018

Employee payroll taxes, insurance, and fringe benefits. risk of a lower than expected contract dollar value, risk of a high inflation cost if factors are bid for option years, risk of poor subcontractor performance and re-performance). Subcontractors’ overhead and profit. As built drawings. Permits, licenses, and fees. contact-form].

Overhead 100

Overhead Permits Insurance Contract 100

Job Order Contracting

FEBRUARY 3, 2022

All prequalified contractors invited to bid should submit sealed bids based on one or more adjustment factors / coefficients to the unit prices listed in the approved JOC unit price book (UPB). The approved JOC unit price book should be locally researched and organized using CSI Masterformat.

Contract 130

Contract Bidding Organization Consulting 130

Construction Enquirer

AUGUST 28, 2023

One buyer said: “We successfully bid for some lots in the auction then were told most things had been stolen when the factory was raided that weekend. “The administrators are now working with insurers and all related parties to minimise any losses incurred.”

Insurance 110

Insurance Bidding Equipment Housing 110

Levelset

OCTOBER 13, 2022

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.

Insurance 52

Insurance Certification Contractors Liability 52

Cassell Construction Estimating

JULY 6, 2015

Through today, July 6th, JBKnowledge is conducting the annual survey again, and we hope you’ll consider participating.

Insurance 100

Insurance Mobility Consulting Software 100

Job Order Contracting

SEPTEMBER 28, 2016

Example include, general and administrative and other overhead costs, insurance costs, bonding and alternative payment protection costs, protective clothing, equipment rental, and contractor’s profit. Employee payroll taxes, insurance and fringe benefits. Subcontractors’ overhead and profit. As built drawings.

Contract 100

Contract Overhead Insurance Profitability 100

Construction Business Owner

APRIL 2, 2011

INSURANCE |. For those of you contractors doing government work: relish the competition involved with bidding. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety.

Construction 159

Construction Software Software Accounting 159

Construction Business Owner

JANUARY 5, 2012

INSURANCE |. It’s often easy to bid on a job, start work, and miscalculate how far along in the project you are versus the amount of money you’ve spent. This year, I encourage you to close the gap between your bids, your projections, and the actual cost of the project. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

APRIL 26, 2012

INSURANCE |. Meet with them before every project to discuss not only the contractual provisions for scope of work and change orders, but also what you bid and why. The profit you calculate when bidding a job can fluctuate dramatically as work progresses. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |.

Change Orders 120

Change Orders Construction Profitability Software 120

Construction Law Monitor

OCTOBER 6, 2015

As a result, public bid law has come into frequent use. If you are in the construction industry, understanding public bid law can help you be aware of the potential risks/rewards of your next public works project. What is Public Bid Law? Regulatory Framework of Public Bid Law. Public contracts involve tax-payer funds.

Bidding 40

Bidding Louisiana Regulation Contract 40

Construction Law Monitor

OCTOBER 6, 2015

As a result, public bid law has come into frequent use. If you are in the construction industry, understanding public bid law can help you be aware of the potential risks/rewards of your next public works project. What is Public Bid Law? Regulatory Framework of Public Bid Law. Public contracts involve tax-payer funds.

Bidding 40

Bidding Louisiana Regulation Contract 40

Viewpoint Construction Technology

AUGUST 7, 2017

But running a construction company isn’t just about getting bids, staying under budget, and bringing in revenue. Health insurance benefits. Make sure your workers know about all the benefits that come with their employer-sponsored health insurance.

Construction 130

Construction Insurance Employment Viewpoint 130

Construction Business Owner

JANUARY 12, 2012

INSURANCE |. The Expensive Process of Bidding » Save Time, Resources – File Electronically. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Sales/Marketing.

Construction 136

Construction Software Software Accounting 136

Construction Cost Estimating

AUGUST 2, 2011

How to prepare a bid estimate to win a project. A bid process is required to award the most jobs in construction industry. In a bidding contest the lowest bidder will be awarded the contract. Estimating a construction bid involve some knowledge of the building process. How to prepare a bid estimate to win a project.

Estimating 40

Estimating Bidding Construction Drawings 40

Viewpoint Construction Technology

AUGUST 29, 2018

These owning costs are typically fixed annually and are based on the purchase price, interest, depreciation, licensing, insurance and taxes. When a piece of equipment is purchased, there are ownership costs that occur regardless of how the machine is used.

Equipment 189

Equipment Management Profitability Viewpoint 189

Construction Junkie

JULY 29, 2020

BuildingConnected Indirect Costs – BuildingConnected Pro Indirect costs, such as general conditions, insurance, contingencies, fees, and taxes can now be added into bid packages. Connect Bid Board Pro and BuildingConnected Pro This update pushes project information and bidding information from Bid Board Pro to BuildingConnected Pro.

Autodesk 88

Autodesk BIM Bidding Mobility 88

Chianelli Estimating

JANUARY 30, 2020

They do not have the burden of carrying costs like workmen’s compensation, general liability insurance, unemployment related costs, vacations or sick days, etc. Both contractors and owners use them when deciding whether to bid or build a project. Both contractors and owners use them when deciding whether to bid or build a project.

Estimating 78

Estimating Construction Bidding Bankruptcy 78

Job Order Contracting

SEPTEMBER 29, 2017

(a) “Adjustment factor” / “coefficient+ – job order contractor’s competitively bid adjustment to the organizations prices as published in the current unit price book. f) “Job order contractor” – a licensed, bonded, and general liability insured contractor awarded a job order contract. (g)

Organization 100

Organization Contract Liability Contractors 100

Safety Services Company

FEBRUARY 13, 2024

After all, safety first, bidding next. Qualification – Completing the Annual Update is necessary for contractors to maintain a prequalified status to bid and work on projects. To receive it, talk to your workers comp insurance carrier. 2023 was a year of resilience, pressure, and economic uncertainty for our industry.

FAQ 89

FAQ Contractors Management OSHA 89

Safety Services Company

MAY 21, 2024

We will also share how you can stay competitive and maintain compliance in the bidding process. Their initial letter also states, “Your company’s agent or broker can submit insurance and experience modifier documents on your behalf via *ISN®’s Agent/Broker Tool.” Sable Offshore Corp.

Documentation 93

Documentation Insurance OSHA Safety 93

Construction Business Owner

NOVEMBER 3, 2011

INSURANCE |. In addition to providing critical insight to a bid, tender or proposal, the theoretical “buy-in” to the process from the field manager is invaluable. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology. Accounting & Finance. Construction Law.

Construction 120

Construction Software Software Accounting 120