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A construction business needs need public liability insurance , and employers’ liability insurance if you employ staff. Although public liability insurance is not a legal requirement, it should be regarded as essential. Your business plan should also identify potential risks that could result in cashflow problems.
Heck, you get trophies for participating in an event—not winning it. Public Exposure and Liability on Construction Sites. If you ask me, competition is what’s missing these days. It’s easy to get preoccupied with trying to level the playing field. This lack of competition—or the societal taboo against it—is making us soft! August 2008.
It’s a curious paradox that few industries are as tightly regulated and controlled as the construction sector, yet at the same time, few industries are as vulnerable to unexpected events. If it’s a new situation, it may be necessary to devise workarounds to issues as diverse as legal risks, worker training, or cashflow concerns.
In the event of a default, the amount in default (but not the entire principal of the PACE loan) is a liability that is a property tax lien collected by the local government with the priority associated with other real property tax liens, so existing mortgage holder acknowledgment of a PACE loan is required.
A colleague of mine has even considered not calling his children when a family event occurs, because his kids have generally heard about it two days prior via Facebook. Public Exposure and Liability on Construction Sites. This new technology and medium for engagement and networking isn’t going anywhere. Wally Evans Blog. Recent Posts.
Called their “Spring Creek” event, CFMA chapter presidents from around the country gather for several days of leadership and team building exercises in Arizona. Public Exposure and Liability on Construction Sites. « Some Advice on Change Orders. iConstruction » Judging Tipis. Wally Evans Blog. Recent Posts. February 2009.
Ideas start flowing and problems are solved. Luckily, because the event was sponsored by CBO, I had the chance to sit in and ask questions of these readers. Public Exposure and Liability on Construction Sites. I would tell you more, but one of the reasons these discussions are so fruitful is that they are confidential.
During the boom years, it was unheard of to bring a superintendent into the office for a planning event and definitely far-fetched to have them assist in the estimating process. Public Exposure and Liability on Construction Sites. Wally Evans Blog. Recent Posts. Is There No Free Lunch or Construction Software? February 2009.
Each year at this event I’m reminded that collaboration is vital to our construction industry. Public Exposure and Liability on Construction Sites. I am a believer in real collaboration – after all, we did just launch a new product created specifically for project collaboration. Wally Evans Blog. Recent Posts. February 2009.
We will never advertise a one-day only Sale-a-Rama event with something for everyone. Public Exposure and Liability on Construction Sites. Our marketing department is focused on identifying only contractors that are the best fits for our product’s features and benefits. We May Walk Away From a Sale. Wally Evans Blog. Recent Posts.
Just like we expect our smart phones to alert us of daily events and provide us with apps that are easily accessible, contractors are expecting more from their machines and software. Public Exposure and Liability on Construction Sites. CBO was on hand to learn about the latest innovations that will be coming your way. Wally Evans Blog.
While general liability insurance covers against claims related to injury or property damage, errors and omissions insurance protects from lawsuits related to financial loss. Errors and omissions insurance, also called professional liability insurance, is one tool that contractors can use to transfer risk away from themselves.
It is also helpful to provide the surety with a cashflow projection for the project. In the event of issues, access to additional sources of liquidity, like a bank line or personal funds, is also important. Your available cashflow can also be affected by the payment terms and retention amount.
Focus on driving long-term results instead of fixating on isolated events. Project Performance and the Liability of Group Harmony?, Follow the chain back to the source of the problem when running into a reoccurring issue. Do tests along the way to confirm. Integrated Construction Planning Procurement and Project Delivery.
In the event of a payment dispute, contractors file claims against the payment bond instead of against the property itself. In addition to this amount, in the event of a dispute going to court, the prevailing party will be awarded reasonable costs and attorney fees. New Jersey prevailing wage laws.
The updated Pennsylvania incentives guide is brought to you by Real Street Expo , a new event sponsored by Business Facilities and Today’s Facility Manager magazines. Tax credits must be applied against the tax liability of a KIZ company for the tax year in which the KIZ Tax Credit was issued.
If a business entity invests in a qualifying project that meets certain requirements and is approved by the Alabama Department of Revenue, and maintains minimum annual requirements, the company may receive an annual credit against its income tax liability generated from the qualifying project.
It is a credit of five percent of the capital costs of a qualifying project, to be applied to the Alabama income tax liability or financial institution excise tax generated by the project income, each year for 20 years. The credit is 20 percent of the actual costs limited to the employer’s income tax liability.
We strongly recommend a Subchapter S Corp (a Sub S) for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Check with your construction attorney and your liability insurance agent to make certain you are covered. in done correctly.
We strongly recommend a Subchapter S Corp (a Sub S) for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Check with your construction attorney and your liability insurance agent to make certain you are covered. in done correctly. Or The Hard Way.
Get Organized - We strongly recommend a Subchapter S-Corp for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Check with your construction attorney and your liability insurance agent to make certain you are covered. Lessons You Will Learn. The Hard Way.
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