article thumbnail

10 Contract Terms for Higher Profitability

PSMJ Resources

Most clients are demanding more work for lower fees, and firms that do not reexamine the terms of their contracts usually find themselves without enough income to break even, let alone make a profit. When negotiating a contract, insert as many of the following terms into the contract as possible: 1.

article thumbnail

Army Job Order Contracts FAIL to meet AFARS requirements MOST OF THE TIME

Job Order Contracting

JOC unit prices include direct material, labor and equipment costs, but not indirect costs or profits which are addressed in the coefficient(s). However, informal (shop) and as-built drawings, incidental to the job, reflecting the plan of action and the completed project, are anticipated under a JOC. shall not be acquired under a JOC.

Contract 229
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Job Order Contracting Operations Manual

Job Order Contracting

Responsibilities include for the inspection, acceptance and delivery of assigned task orders to the Facilities customer in accordance with the statement of work, specifications, drawings and safety, environmental and fire department. The Contractor’s requirement for plans, sketches, shop drawings, as-builts, etc. requirements.

Contract 100
article thumbnail

Starting Profitable Construction Company Unique Secrets Revealed

Contractor Bookkeeping

There are a number of people who pass out advice on how to start a profitable construction company; however, very few have actually done it and fewer still had a clear understanding of where they were making or losing money and fewer yet have ever gotten past the point of owning a J.O.B. . #2 If You Know Exactly What To Do.

article thumbnail

Setting up a Job Order Contract Using Best Management Practices

Job Order Contracting

general and administrative and other overhead costs, insurance costs, bonding and alternative payment protection costs, protective clothing, equipment rental, sales tax and compliance with tax laws, and also contractor’s profit). through discussions and negotiations. JOC Characteristics. (a) Statement of work. (1)

Contract 100
article thumbnail

The Best Way for Trade Contractors to Stay Out of the Courtroom

Pro Builder

Not if You Follow These 8 Steps to Make Trades Profitable. . Plans and drawings can save you some time (and words) by stating that "All work to be done is on the attached plans and/or drawings," when you bid on your project. If you don't have plans or drawings, write down precisely what you are going to do, to the letter.

article thumbnail

BuildTools Provides the Solution for Managing Demanding Clients

Pro Builder

We had to negotiate our final draw on every home,” says Molthan. So, we were stuck holding the bag and negotiating on it.” There is no need to call up the home builder or project manager or negotiate based on false claims or unclear information, and no nasty surprises when it comes time to hand off the keys.