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“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. 7 insurance policies subcontractors may need.
Without it, it would be impossible to determine where a contractor’s liability begins or ends. A general contractor, for example, benefits from a vague scope of work provision in its subcontracts, but would want specific provisions in its general contract. The short answer: liability. Extra-Contractual Provisions.
In an earlier blog ( #62 ) I discussed the implied covenant of good faith and fair dealing that limits a contracting party’s exercise of the discretion afforded to it by the parties’ contract. Such a provision was part of a commercial painting subcontract in Hate to Paint, LLC v. Ambrose Development, LLC , No.
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.
Just the bare labor component includes adders such as fringe benefits, unemployment insurances (federal and state), social security taxes, public liability costs, and builders risk insurance. With general contractors subcontracting the bulk of their projects this is a reasonable place to start the marking up.
Subcontracting. This process is known as subcontracting. Integrated Project Delivery (IPD) emphasizes teamwork and shared liability. That’s not to say construction costs are unreasonable or deal-breaking, or that you can’t charge what you’re worth. How to Perfect Your Construction Bid.
Eleven different Pennsylvania-based construction companies already have been subcontracted to do much of the work, and many more opportunities will be made available as the project goes forward. If the credit exceeds the tax liability, the remaining credit is refundable.
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