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Federal Construction Contractors Are Faced with the Double Whammy of the Pandemic and Price Escalation: What Can Be Done?

Federal Construction Contracting Blog

Delays to projects were frequent, but contractors were told that although they would be granted time extensions, these extensions would be non-compensable. The government recognized the financial impact to individuals who could not work and literally printed money to fund financial stimulus and extended unemployment compensation.

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Collaborative Construction Solution

Job Order Contracting

The only proven method to date of resolving the above is to apply a programmatic approach to all participants, projects, and/or work orders. Furthermore, compensation is performance-based and depended upon the final outcome. If this manner, all participants follow the same workflows and use the same common data environment.

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Construction Business Owner Blogs

Construction Business Owner

A safe work environment is one of the most straight forward ways to decrease workers compensation expenses. The more accidents and safety violations you have on a job, the more the job is going to cost; and the last time I checked you can’t submit a change order just because your team got hurt on the job! change orders.

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Job Order Contract Execution Guide – Sample Template

Job Order Contracting

project task/line item, a full description in plain English, a unit of measure and a corresponding unit price, including labor, material, and equipment details, and an associated approved contractor coefficient are to be the basis for Contractor compensation. This action will require a modification to the JO to reflect a change order credit.

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Construction Business Owner Blogs

Construction Business Owner

Other reports that are typically offered include: EEO/Minority Compliance, Workers’ Compensation, Union Reporting, and the ability to create countless custom reports. change orders. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety.

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Elements of a Cost Estimate

Construction Cost Estimating

These are FICA (Social Security), SUI (State Unemployment Insurance), FUI (Federal Unemployment Insurance), WC (Worker Compensation) and others mandated by legislation and/or company operations. To determine any craft rate, whether union or open shop, the estimator should start with the basic wages and fringe benefits.

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New Contractor Business Start Up

Contractor Bookkeeping

Your contracts need a well-defined scope of work, clear payment terms, a reasonable schedule and a good change order clause. Invoicing - For small projects we have a Free Invoice Template you can download and for larger projects with multiple deposits, change orders, progress payments check out our Pay Application.