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#92:  Lost Profits and Waivers of Consequential Damages

NH Construction Law

But many commercial construction contracts provide for mutual waivers of consequential damages in the event of a breach. ” The Court concluded that the quoted language “can only be construed to exclude incidental or consequential damages, such as lost profits, resulting from the data breach. In Mentis Sciences, Inc.

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Business Interruption Insurance in Construction: What Contractors Need to Know

Levelset

It can also be a lifesaver, as it will provide additional support to your business through the length of time it shuts down due to an event like a fire or theft. Additionally, it also can help protect against downtime caused by extreme weather events or other disruptive conditions.

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Hard Cost Estimating of Labor Worksheet

Construction Cost Estimating

In order to make exact estimate for your work as well as profitability, it is essential to determine your labor costs. Here, the total projected cost is then highlighted with a prearranged factor hence the selling price also includes your overhead and planned profit.

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Contractor's Networking Secrets To Increase Sales And Profits

Contractor Bookkeeping

It would be foolish for them to provide the services and not be compensated fairly. In time the laws of nature bring forth a great harvest of contacts, some of which become relationships that lead to construction projects which in turn generates massive amounts of cash flow, profit and eventually substantial wealth for the contractor.

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Challenging Times = Emerging Sales Opportunities

Pro Builder

Today, rapidly changing events in the industry are providing opportunities to create long-term relationships that can result in high commission dollars and increased sales. . Compensation, commissions, and the independent contractor relationship will all change. Saul Klein. Realtor emeritus, CFP. Sales + Marketing. New-Home Sales.

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How to Recession-Proof Your Firm: Best Practices for Construction Business Leaders

Autodesk Construction Cloud

Reduce rework Industry data shows that rework accounts for 2% to 9% of a project's total cost, so reducing it can help you significantly boost your profit margins and deliver projects within budget. Most organizations provide specialized training, workshops, and events to help construction pros level up their knowledge and skills.

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Insurance for Electricians: What It Covers & Why You May Need It

Levelset

A series of small mishaps like these could put a dent in your profit margins from year to year. Workers’ compensation insurance : This coverage can help replace income and cover medical expenses if an employee is injured while on the job. You also need to plan for more common occurrences.