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What Is a Certificate of Insurance (COI) for Contractors — and When Do You Need One?

Levelset

A certificate of insurance (COI) is a valid form used to prove that you carry the appropriate insurance policy. Why a certificate of insurance matters. If you’re bidding on contract work, you will likely need a COI per terms of a legal agreement. Related: 9 Common Insurance Policies in Construction.

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Additional Insured Endorsements & How They Work in Construction

Levelset

In short, an additional insured is typically another business entity or person who can be added to your business policy, securing the same liability protection that you do. An additional insured agreement allows a policyholder to extend their business insurance coverage to a specific third party. What is an additional insured?

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Tax Reform Impact on Employers and Employees

Revit OpEd

On December 15, 2017, Congressional Leaders announced that the conferees appointed by both the House and the Senate reached an agreement to reconcile differences between the House’s version of the Tax Cuts and Jobs Act (the “House Bill”) with the Senate’s version of the Tax Cuts and Jobs Act and unveiled the text of a final bill (the “Tax Bill”).

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15 Tips For Starting Your Own Roof and Guttering Business

Construction Marketing

Insurance, liability, and workers’ compensation . Limited liability company (LLC) . You can also hire a lawyer to help you out with other legal requirements such as service agreements. Moreover, if you plan to open up a store, you’ll also need a Certificate of Occupancy. . Labor costs. Utility bills.

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Pennsylvania Home Improvement Consumer Protection Act: What Residential Contractors Need to Know

Levelset

The contract should constitute the entire agreement between the parties, including attached copies of any required notices. If, however, the agreement is a time and materials contract , a further breakdown is required. ” It’s a way to cancel the agreement with no harm and or penalties to either party.

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Winning More Construction Bids: A Complete Guide

Autodesk Construction Cloud

Here, the owner and contractors would come up with an agreement and produce a formal document outlining the terms of the project. . Construction contracts come in different forms, including: Cost-Plus Contract, where contractors are compensated for all construction-related expenses. That’s why we created this bid submission checklist.

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Construction Jobsite Safety: Strategies and Resources for Worker Well-Being

Pro Builder

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.

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