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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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HUD Jumpstarts PACE Financing for Homes

Green Building Law Update

Department of Housing and Urban Development and the Department of Veterans Affairs released new guidance, changing their previous positions, now widely allowing residential Property Assessed Clean Energy (PACE) financing. The guidance describes it as, the property may only become subject to an enforceable claim (i.e.,

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The Startup Construction Business Checklist: 3 Important Documents You Need to Have

Construction Marketing

Insurance is perhaps the most important thing to arrange before starting a construction company. There are many different types of insurance in the United Kingdom. A construction business needs need public liability insurance , and employers’ liability insurance if you employ staff. Business Plan.

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Virtue signallers beware

Construction Law

The next thing you might be contacting your lawyer about could be your potentially over-inflated sustainability claims. Virtue signalling by ‘greenwashing’ could end up being more expensive than taking the measures you have wrongly claimed to. Those projects failing to meet these criteria may struggle to access financing.

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Key Financial & Safety Metrics for Subcontractor Qualification 

Autodesk Construction Cloud

Formula: (Cash and Cash Equivalents + Marketable Securities + Accounts Receivables) / Current Liabilities . Like the Quick Ratio, Current Ratio measures a company’s ability to pay off its short-term liabilities with its current assets. Formula: Current Assets / Liabilities . Formula: Total Liabilities / Total Assets .

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Contractor License Bonds: Everything You Need to Know

Levelset

In the event of a valid claim against the license bond, the principal must reimburse the surety company for any payouts. The surety company is responsible for requesting reimbursement from the contractor after a claim payout has been made on the contractor’s behalf. Obligees can file a claim for: Failing to pay licensing or other fees.

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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.