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What Is an Insurance Endorsement? A Contractor’s Guide

Levelset

When working in construction, your insurance policy gets issued as a fairly standard contract. Like a basic construction agreement, you can upgrade or downgrade your insurance policy just as a customer might do with the fit and finish of a building. What is an insurance endorsement? How insurance endorsements work.

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8 essential steps for effective project cost estimation and budgeting

Fieldwire

Finding your niche can benefit your brand, gaining repeat business from general contractors and design-build construction firms. Calculate labor costs Labor costs include worker wages, taxes, insurance premiums, retirement contributions, vacation and sick leaves, and union dues.

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KPIs for Architects: 3 Performance Indicators to Watch

Levelset

For architects and other design firms, the break-even point is ideally expressed as an hourly rate to help guide you when you’re setting your billing rates. Where direct labor is the percentage of salaries that are spent on billable work (rather than overhead time). The direct labor cost is $75,000. Utilization rate.

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What is a Construction Takeoff?

Chianelli Estimating

Digital takeoffs also allow almost instantaneous adjustments based on changing prices or design updates. Your estimator will need to consider expenses such as labor, equipment, shipping and handling, insurance and other overhead costs as well. A takeoff does not include project costs beyond materials.

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Job Order Contracting Guide

Job Order Contracting

Labor rates are for direct labor, without overhead and profit, however include fringe benefits and allowances for Social Security and Medicare taxes, worker’s compensation, unemployment insurance and employee benefits. It is assumed that all workers are skilled for the particular task in concert with safety (OSHA) requirements.

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CCIP & OCIP: A Guide to Controlled Insurance Programs in Construction

Levelset

Construction insurance can be confusing. Each contractor and party to the project has their own insurance, which may or may not be adequate to protect the work they’re performing. Learn more: What types of insurance do contractors need? Learn more: What types of insurance do contractors need? CCIP vs. OCIP insurance.

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The contractor proposal bid form

Construction Cost Estimating

In this form a neat, prearranged bid is written on a proficiently designed bid form. The form also includes the costs, overhead as well as profit of a contractor. All the taxes, bond premiums and insurance under "Work Scope and Details are also included in the form.

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