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If you, as an employer, have 1099 employees on your staff from time to time, you may be wondering whether you are required to provide health insurance to them. While you are not legally obligated to offer health plans to these workers, you can still choose to. Do Employers Have to Provide Health Insurance to Contracted Employees?
Whether just starting out or operating for years, there are many legal obligations and issues that confront a small business owner. The Small Business Legal guide from Legal Services Link provides information on the top ten areas business owners need to address to ensure their businesses are legally protected.
Business insurance can help mitigate occurrences or disasters that can severely impact or destroy the good standing of your business. Let’s take a look a subcontractor insurance: when it’s needed, what happens if a sub goes uninsured, and what policies subs can use to protect their businesses from risk.
UNDERSTANDING THE CONTRACTOR’S JOB ORDER CONTRACT COEFFICIENT. A Job Order Contract Coefficient is a numerical factor that represents costs (generally indirect costs) not included in the unit price line items within the Unit Price Book, UPB, associated with the Job Order Contract. Subcontractors’ overhead and profit.
You must also ensure that your paperwork, documents, and contracts are in order. This is a mark of professionalism and can also help if you have an insurance or legal claim. It's essential to keep a paper trail of your work and practice due diligence.
In turn, the owner is relying on the insurance company to pay their claim. After all, the faster the insurance company pays the owner, the quicker you can get paid ! Dig deeper: What contractors need to know about the insurance claims process. You don’t work for the insurance company or the adjuster, and they don’t work for you.
If you learn that you need to purchase a surety bond to work as a contractor or to enter into a contract to perform work on a project, here is some information you should know about surety bonds and how they work for contractors. The second category of bonds you will likely encounter as a contractor is contract bonds. Bond Types.
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I will also be participating in an upcoming green building legal webinar with the ABA Fidelity and Surety Law Committee. With the emergence of new green building codes, updates in green ratings systems, and new legal issues, green construction has become one of the newest areas of risk, liability and litigation for the construction industry.
What’s in a JOC Coefficient should be specifically detailed in the Job Order Contract Request for Proposal. Here’s a listing of what is typically included in a construction contractor’s Job Order Contract coefficient… Contractor’s overhead and profit. Employee payroll taxes, insurance, and fringe benefits.
Best Practice Job Order Contracting. The DOD has long been recognized as the leader in best practice job order contracting. Thus while County, State, and Local Governments in general have a ways to go in deploying Best Practice Job Order Contracting, the potential benefit are certainly worth the effort. Note that for.
Well, in a recent construction dispute in Maryland, “the Man” was the owner’s insurance company. The contract required Gaylor to purchase and maintain an Owner Controlled Insurance Program (“OCIP”). The Contractor did not notify the insurance carrier of the dispute prior to settlement.
A Job Order Contract Execution Guide is a required element for any successful, best management practice JOC Program. The following template is provide for sample purposes only and should not be used a legally bidding document without through review and modification by appropriate Owner legal counsel. DEFINITIONS.
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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Project loss insurance has the potential to save contractors from devastating project losses, no matter the cause. Project loss insurance, or PLI, is designed to mitigate catastrophic construction project losses. Project loss insurance coverage. How project loss insurance works. How much does project loss insurance cost?
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INSURANCE |. 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. Home Contact Us About Us Subscribe Advertise Legal Disclaimer Site Map -->. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management.
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Errors and omissions (E&O) insurance covers contractors against financial loss resulting from mistakes, errors, or claims of negligence. While general liability insurance covers against claims related to injury or property damage, errors and omissions insurance protects from lawsuits related to financial loss.
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News Our regular news round up reports on a major review of water industry regulation; a rail group urging the use of private finance; and a call for standard form contracts to be left unamended. Legal terms explained Tom Cadman of Herbert Smith Freehills LLP explains what is meant by Building Liability Orders.
An insurance policy rarely meets every contractor’s needs out of the box. One of the most common endorsements you’ll likely encounter involves additional insured (AI) parties. While it may sound unusual, adding additional insureds is common and extends benefits both to you as a policyholder – and the party being named on the policy.
Insurance is one part of a strategy to keep your carpentry business financially healthy. To minimize any financial damage, a comprehensive carpenter’s insurance plan is a smart bet. . What is carpenter insurance? Does a carpenter need insurance? Insurance serves another purpose.
A construction contract is a tool that you can use to help outline these requirements. What exactly is a construction contract, how can it be used and what are the different types? A construction contract is a document that outlines the roles and responsibilities between two or more parties on a project. Lump Sum Contracts.
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This Act has a fair amount of rules and requirements that must be followed on home improvement projects, specifically when it comes to the terms of their contracts. There are a few provisions that every construction contract should have. PA home improvement contracts: What’s required? Contract price.
INSURANCE |. In our business we fight tooth and nail to stay competitive and win contracts. Home Contact Us About Us Subscribe Advertise Legal Disclaimer Site Map -->. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology. Accounting & Finance. Construction Law.
Setting up a Job Order Contract Using Best Management Practices involves a mix of strategic and operational steps including a gap analysis of current and planned outcomes. . d) An indefinite-delivery, indefinite-quantity (task order) contract which provides for the use of negotiated, definitive, bilateral orders (i.e.,
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.
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Luckily, that’s what insurance is for, right? Does a general contractor’s insurance cover their subcontractors’ accidents or mistakes? While there isn’t a cut-and-dry answer to these questions, we’ll take a deeper look into insurance coverage and what happens in these situations. Who is covered by an insurance policy?
Legal terms explained Jason Han of Herbert Smith Freehills LLP explains what is meant by Pure Economic Loss. CL guides Construction Law Guide to JCT Contracts Our latest Construction Law Guides series article comes from Rachel Chaplin of DLA Piper UK LLP who looks at the Joint Contracts Tribunal range of contracts.
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As you dig deeper into your construction insurance policy, you may come across the terms first-party insurance and third-party insurance. Mastering the difference between these two concepts is crucial to understanding how different types of construction insurance protect you.
Judgment factors must be applied within the average range to allow for: • Quality • Type of contract. Insurance and bond costs • Appraisals. Legal fees • Soil and environmental tests. via Four BT, LLC, Tool, cost data, and services to support best value LEAN construction delivery, including Job Order Contracting. .
Reading and understanding an insurance policy on a construction project can be a lot like understanding my kids playing Speak Out. Proper insurance coverage is an important risk management tool for contractors, subcontractors, project owners/developers and design professionals. Nautilus Insurance Co. ,
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Plumbing contractors should include business insurance as an integral part of their financial strategy. With numerous policies available, the plumbing contractor’s insurance landscape offers many ways for you to protect your physical and financial business assets. What is plumber’s insurance? Worker injury.
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.
When working in construction, your insurance policy gets issued as a fairly standard contract. Like a basic construction agreement, you can upgrade or downgrade your insurance policy just as a customer might do with the fit and finish of a building. What is an insurance endorsement? How insurance endorsements work.
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INSURANCE |. Fewer accidents also mean lower insurance premiums, which mean lower labor costs. or higher, then it might be time to consider implementing a comprehensive safety plan to try and reduce your workers compensation insurance costs. Home Contact Us About Us Subscribe Advertise Legal Disclaimer Site Map -->.
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