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The Value Of Documenting Effective Construction Business Systems

Contractor Bookkeeping

Unfortunately, when a construction business grows, and staff need to be hired – or the owner needs to take time away from the company – it's an absolute liability not having processes and systems documented in one place. To be in business and to remain in business, become a business person!

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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. There are many different types of insurance in the United Kingdom.

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#116:  Termination as a Condition of Performance Bond Liability

NH Construction Law

Conversely, not terminating also forgoes the protection of the bond – if termination is an enforceable condition of the surety’s liability. “In interpreting a multiple-document agreement, we seek to harmonize and give effect to the provisions of the various documents so that none will be rendered meaningless.”

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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. These types of transactions are not always sufficiently documented, and terms and conditions may not be at arm’s length. This requirement is FASB aiming for better transparency into the financial positions of companies.

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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.”. General liability insurance. For example, assume you paint residential structures of all types.

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YOUR PERSONAL LIABILITY FOR WORKPLACE SAFETY

Safety Services Company

Remember that OSHA fines and penalties are a direct connection to employer liability; these consequences fall in addition to the myriad blows to a business’ bottom line. Keep in mind that many liability lawsuits have arisen from negligence occurring after training; formal initial training is not enough.

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Is Gravity Part of OSHA’s LOTO Regulation?

FDR Safety

In some cases OSHA is involved and in others, there is a civil suit alleging tort liability. Imagine being held to a legal liability for trying to foresee and manage every service or maintenance task where a falling part could injure a worker. As part of your documented training, remind them… GRAVITY WINS. What can we do?