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

Construction Marketing

This article outlines three important documents that you’ll need in order to start and run a profitable business. A construction business needs need public liability insurance , and employers’ liability insurance if you employ staff. Legal Documents. Business Plan. A business plan is vital for a number of reasons.

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The Impact of ASC 842 – The New Lease Standard Is Here

Construction Business Owner

Going forward there will be a long-term asset offset by a current liability and a long-term liability. According to ASC 842-10-55-12, these leases “should be classified in accordance with the lease classification criteria applicable to all other leases on the basis of the legally enforceable terms and conditions of the lease.”

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Subcontractor Insurance: 7 Policies Subs Should Consider for Their Business

Levelset

“If something goes wrong, liability could hit the GC’s policy, which dilutes liability insurance limits, negatively impacts their claims history, and forces them to deal with a claim that’s not really their fault.”. Medical expenses, property damage, and legal defense costs can grow quickly.

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Contractor Management and Prequalification: Why Are They Necessary?

Safety Services Company

Avoiding Legal Issues Hiring clients hire a licensed contractor to save themselves from legal liabilities and low-quality work. Unlicensed contractors do not have the necessary documentation to prove their skills. Businesses strive to find safe, compliant, and high-performing contractors for a number of reasons: 1.

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What Certifications Does A Crane Need To Operate On Construction Sites?

Construction Marketing

A solid commitment to safety can help reduce legal liabilities resulting from accidents or non-compliance with safety regulations. These requirements encompass comprehensive training, evaluation, and documentation of skills and knowledge. Proper certification and training are crucial for preventing these accidents.

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What Contractors Need to Know About Surety Bonds

Construction Marketing

Surety bonds are financial guarantees that are issued to ensure the individual or company who obtains the bond will perform work in a legally compliant manner and will avoid fraud and misconduct. Surety – The bonding company that guarantees the principal’s ethical operations and legal compliance by issuing the bond.

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You Should Not Contract With Your Environmental Consultant

Green Building Law Update

The recommendation here is that in an environment of strict liability hazardous substance laws, from CERCLA and its state counterparts to local lead based paint codes, attorneys should be contracting with those undertaking hazardous substance investigations and the like. And it may be much more than that.