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

Levelset

To help your business remain viable, contractor’s insurance should be a crucial part of your financial strategy. Insurance also puts other parties’ minds at ease when they want to hire you as a specialty contractor. A certificate of insurance (COI) is a valid form used to prove that you carry the appropriate insurance policy.

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Key Financial & Safety Metrics for Subcontractor Qualification 

Autodesk Construction Cloud

It can be used to determine the proportion of a company’s assets that are financed by debt. A low ratio indicates that the company is financing a substantial portion of its current assets to create a relatively small working capital position. . FINANCIAL RATIOS: DEBT . Debt Ratio . Formula: Total Liabilities / Total Assets .

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Construction Business Owner Blogs

Construction Business Owner

INSURANCE |. Accounting & Finance. A safe work environment is one of the most straight forward ways to decrease workers compensation expenses. Fewer accidents also mean lower insurance premiums, which mean lower labor costs. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management.

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What You Need to Know To Get a Surety Bond as a New Contractor

Constructonomics

Unfortunately, new contractors are often unfamiliar with the bonding process, which includes undergoing finance and credit checks, providing upfront collateral, and paying issuance fees. Surety bonds offer financial protection similar to insurance, although there is a distinct difference in how they work. How construction bonds work.

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Unique Tips To Reduce Construction Company Start Up Stress

Contractor Bookkeeping

Use Credit Cards - And supplier accounts to finance your new business and be very careful about what you buy. 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. You say O.K.

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New Contractor Business Start Up

Contractor Bookkeeping

Use Credit Cards - And supplier accounts to finance your new business and be very careful about what you buy. 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. You say O.K.

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We Reduce Construction Company Start Up Stress

Contractor Bookkeeping

Did You Use Your Personal Credit Cards - And supplier accounts to finance your new business and perhaps you were not careful about what you bought? 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.