and employers’ liability insurance, but it also allows the owner and contractor to include project-specific insurance, like asbestos abatement liability insurance if it is required for the project. Terms regarding waivers of subrogation, performance bonds and payment bonds are also included in the A2...
General liability insurance: Specifies the need for general liability insurance, which covers incidents like property damage and personal injury that could occur during the construction project. It details the coverage limits and who should provide this insurance. Workers' compensation insurance: Requires ...
General liability insurance is essential for the construction workers and contractors because it offers protection from all kind of risks that exists in the construction industry. Moreover, even when any accidents take place at the construction site, the insurance will keep the assets and investments ...
Andrew J. Sloniewsky
In most construction projects, the general contractor traditionally takes control of the site and is responsible for its means and methods of construction, and, therefore, should bear primary liability for damage arising from construction operations. ...
1.20 Liability for Breach of Contract: The liability that the either party shall be responsible for not honoring their respective contractual obligations or not fully discharge their contractual obligations. 违约责任:指合同一方不履行合同义务或履行合同义务不符合约定所应承担的责任。 1.21 Claim: In the ...
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The liability of the Co-signer ceases after the customer has made 12 consecutive timely monthly payments to the Company. 5. Guarantor means: A person who assumes liability for the payment of a deposit if a customer fails to pay the deposit. A Guarantor must be a customer of the Company. ...
Bonds:Surety bonds may be required for your construction activities. If for some reason your company can’t fulfill a project, these bonds serve as protection. Insurance:Business insurance choices can include general liability insurance, workers’ compensation, and vehicular insurance policies to cover...
construction projects. Also known as Owner Controlled Insurance Programs (OCIPs) and Contractor Controlled Insurance Programs (CCIPs), wrap-ups are often used in government contracts such as highways, bridges, airports, prisons and military bases, and commercial projects such as hotel-shopping-office ...