The surety company should write the contractor license bond through the helping hand of the California Department of Insurance. The amount of the bond should be $15,000.The bond should have consisted of the signature of attorney-in-fact for the surety company. This particular bond must be rece...
If a contractor doesn’t have at least the minimum amount of insurance, they are allowed to be licensed either and basically you have unlicensed and uninsured people are working on your site. Remember for licensed, insured contractors, the general contractor holds a general insurance policy that ...
In many states, contractors are required to hold a certain amount of general liability coverage in order to get acontractors license. 3. Errors & omissions/professional liability insurance Errors and omissions insurance(E&O) In a chosen profession, one must adhere to certain standards and best prac...
National Insurance and the State Pension TheState Pensionis worth £221.20 per week (2024/5) – up from £203.85 per week (2023/4). However, the exact amount you will receive upon retirement depends on how many qualifying years’ of NI contributions you make during your working life. Yo...
Guarantee public contracts Every contractor’s dream is to have alarge public project. This guarantees financial freedom and protects construction companies from collapsing. But for a project above specific dollar amount, government institutions need bonding to protect the taxpayer money, and for the co...
7. If any difference arises as to the amount to be paid under this Policy (liability being otherwise admitted), such difference shall be referred to the decision of an arbitrator to be appointed in writing by the parties in difference or, if they cannot agree upon a single arbitrator, to ...
The City shall be named by endorsement as an additional insured on the Contractors Pollution Liability insurance policy. Contractors Pollution Liability insurance shall be written in an amount of at least $1,000,000 per loss, with an annual aggregate of at least $1,000,000. If the services ...
Unless liability is limited to insurance proceeds of the DP LoL endorsement whereby the insurer attaches excess of a given dollar amount. If the LoL is below the dollar amount, the insured is responsible for the delta. If it is above, the insurer attaches above the LoL. ...
Litigation, or taking the dispute to court, is generally considered a last resort due to the high costs, lengthy process, and public nature of court proceedings. However, it becomes necessary if other methods fail or if the dispute involves substantial amounts of money or complex legal issues....
There are more tests, but these are the ones most often used by the IRS. States add a few of their own; so, beware. Pay contractors using account payable systems, not payroll services. Pay only upon receipt of invoices, not with regularly triggered checks or transfers of uniform amounts ...