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The Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA, commonly referred to as Superfund), 42 U.S.C. provides an important liability protection, including from cleanup costs, for parties who qualify as bona fide prospective purchasers (BFPPs). 9601 et seq.,
The Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA, commonly referred to as Superfund), 42 U.S.C. provides an important liability protection, including from cleanup costs, for parties who qualify as bona fide prospective purchasers (BFPPs). 9601 et seq., 9601 et seq.,
The Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA, commonly referred to as Superfund), 42 U.S.C. provides an important liability protection, including from cleanup costs, for parties who qualify as bona fide prospective purchasers (BFPPs). 9601 et seq., 9601 et seq.,
The Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA, commonly referred to as Superfund), 42 U.S.C. provides an important liability protection, including from cleanup costs, for parties who qualify as bona fide prospective purchasers (BFPPs). 9601 et seq., 9601 et seq.,
By way of background, a Phase I environmental site assessment is the process of evaluating a property’s environmental conditions and assessing potential liability for contamination. History says, ‘see you later.’”.
By way of background, a Phase I environmental site assessment is the process of evaluating a property’s environmental conditions and assessing potential liability for contamination. History says, ‘see you later.’”.
Two of the most common insurance policies that contractors have are builder’s risk and general liability, which serve very different purposes. Builder’s Risk Insurance General Liability Insurance Coverage Covers a building under construction—and often tools, equipment, and materials related to the project.
“If something goes wrong, liability could hit the GC’s policy, which dilutes liability insurance limits, negatively impacts their claims history, and forces them to deal with a claim that’s not really their fault.”. General liability insurance. Workers compensation insurance. Business auto insurance.
It can also be a lifesaver, as it will provide additional support to your business through the length of time it shuts down due to an event like a fire or theft. Additionally, it also can help protect against downtime caused by extreme weather events or other disruptive conditions.
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.
This worksheet includes all of the hours for paid vacations, holidays, participating in training programs or trade events and company meetings in the anticipated labor costs. The Hard cost of labor worksheet takes into consideration non-productive time and other labor allied expenses into a burdened labor rate.
There are many policies that apply to a carpenter, but a simple business owner’s policy can include property damage and liability coverage. If a third party gets injured on a job, liability coverage helps pay the cost of legal defense if you get sued for the accident. . Does a carpenter need insurance?
Between miscommunication, the wrong specifications, carelessness, or events out of anyone’s control, things can go wrong, and the damages can be expensive. If a sub accidentally drops a steel beam on the project manager’s new sports car, that subcontractor’s liability insurance policy would likely cover the damage.
A tort , in common law jurisdiction, could be a tort (other than a breach of contract) that causes an applicant to suffer loss or hurt, leading to legal liability for the one that commits the act. A minor is often created chargeable for their torts, however, they’re restricted in liability once it involves a contract. Negligence.
One of the biggest hurdles facing injured workers are politicians and state legislatures that are constantly tinkering with the workers’ compensation system, in a misguided attempt to make their respective state more “business friendly.” We provide up to date information on how worker’s compensation programs operate in other states.
Aside from owners and GCs, a government entity may want to see proof of liability insurance. You may be seeking to work for a local, state, or federal government, and these bodies will want to know that you carry liability insurance before you’re awarded — or even considered — for a bid. When do I need to provide a COI?
They can arise from contractor fault, owner fault, or to events beyond either party’s control – or any combination of these. Still, contracts excusing a party from liability for the harm he causes have never been favorites of the courts, which often show a willingness to entertain exceptions to the enforceability of such clauses.
The department hosted Town Hall events throughout the state during the first week of June to gather public input toward development of guidelines and policies for FY16. . . The credit may be applied against the taxpayer’s gross receipts tax liability or compensating tax liability. TAX INCENTIVES.
The updated New Mexico incentives guide is brought to you by Real Street Expo , a new event sponsored by Business Facilities and Today’s Facility Manager magazines. The credit can be applied to the state portion of the gross receipts tax, compensating tax and withholding tax. Any excess credit will be refunded to the taxpayer.
But many commercial construction contracts provide for mutual waivers of consequential damages in the event of a breach. Normally both types of damages, if adequately proven, are recoverable in a lawsuit by the nonbreaching party. Typical is the AIA’s A201 General Conditions (2017) § 15.1.7:
If the designs are incompatible, unworkable, or defective, architects and engineers may be subject to liability for any additional costs required to correct a deficient design. When unexpected events disrupt the contractor’s original plan, the effect can: Delay the scheduled project completion.
The updated Oklahoma incentives guide is brought to you by Real Street Expo , a new event sponsored by Business Facilities and Today’s Facility Manager magazines. “Quality Event” is a meeting of the members for a nationally recognized organization. .
Additional payments may be required in event of early payoff or sale of the company. Qualifying businesses may receive a credit against the business’ annual state income or corporate excise tax liability. Participating employers are compensated through a reduced federal income tax liability. . OTHER INCENTIVES.
This document outlines the following details for each participant: The role they play in the project Their rights and obligations Any liability they agree to or are assigned Their responsibilities Source: Skanska This document officially establishes a smaller team within an organization that is dedicated to a single project.
The guaranty that SBA provides the lender gives them the assurance the Government will reimburse the loan, up to a percentage, in the event the borrower defaults. Oklahoma Quality Events Program (68 O.S. A “Quality Event” is defined as a new event or a meeting of a nationally recognized organization or its members.
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.
Whoever is responsible for breaching their duty of care should compensate for the injuries. If the construction company fails to keep the site safe, they could face liability. Depending on the scale of the construction project, any unforeseen event involving debris can happen and bring about injuries. .
You pay pennies on the dollar for coverage that could range into the millions for general liability (GL) insurance, for example. General liability insurance : A GL policy may help cover the cost of bodily injury or property damage that occurs on a jobsite. General liability may help pay for the cost of repair. .
All federal, state or other tax liabilities (including income tax) arising from this Contest will be the sole responsibility of each prize Winner. GENERAL: This Contest is subject to all applicable federal, state and local laws. This Contest is subject to these official rules.
All federal, state or other tax liabilities (including income tax) arising from this Contest will be the sole responsibility of each prize Winner. GENERAL: This Contest is subject to all applicable federal, state and local laws. This Contest is subject to these official rules.
All federal, state or other tax liabilities (including income tax) arising from this Contest will be the sole responsibility of each prize Winner. GENERAL: This Contest is subject to all applicable federal, state and local laws. This Contest is subject to these official rules.
All federal, state or other tax liabilities (including income tax) arising from this Contest will be the sole responsibility of each prize Winner. GENERAL: This Contest is subject to all applicable federal, state and local laws. This Contest is subject to these official rules.
All federal, state or other tax liabilities (including income tax) arising from this Contest will be the sole responsibility of each prize Winner. GENERAL: This Contest is subject to all applicable federal, state and local laws. This Contest is subject to these official rules.
Consider these elements of a training and awareness program to save lives, mitigate injuries, and reduce liability and costs . Selective Insurance recently released the results of a 10-year study of workplace injury trends , based on 110,000 workers’ compensation claims between 2011 and 2021. billion in workforce education.
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.
The updated Rhode Island incentives guide is brought to you by Real Street Expo , a new event sponsored by Business Facilities and Today’s Facility Manager magazines. For a list of Rhode Island economic development agencies that can help with the site selection process, visit our Online Site Seekers’ Guide. Bond Financing.
Modification of limitation on excessive employee remuneration: Under current law, an employer generally may deduct reasonable compensation for personal services as an ordinary and necessary business expense. Code Section 162(m) limits the deductibility of compensation expenses in the case of publicly traded corporate employers.
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