criteria for consideration for commercial license
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- experience and ability
- character
- equipment
- manner for performance of previous contracts
- financial conditions
- personnel
- work completed
- work on hand
- ability to perform work satisfactorily under contract at the time of
application
- default in complying with provisions of the licensing law or any other law
of the state
- examination results
,four basic requirements of bonds
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1. total dollar amt required for the bond
2. length of the bond
3. requirements for notice of defect or lack of maintenance
4. bond enforcement
when determining penalties if wrongdoing by the contractor is determined at the
hearing, these criteria are used :
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- willfulness of the violation
- any cost of restoration and abatement
- economic benefit to the violators as a result of noncompliance
- seriousness of the violation (harm to environment, health and safety of
public)
- prior violation by such violators
lien bond
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guarantees that liens cannot be placed against the owner's property by
contractors for payment of services
- allows someone to "bond around" a labor or materialmen's lien
,filing process for bond claims
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construction law and contractual relationships govern this process
- common law bonds have the process outlined in the bond
- government statues outline the process for statutory bonds
Purpose of the Construction industry payment protection act of 1999
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to improve payment bond protections for persons who furnish labor or
material for use on a federal construction project
the top reasons businesses fail
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- poor sales
- competitive weakness
- high operating expenses
- difficulty collecting invoices
- inventory problems
- too many fixed assets
- poor location
- fraud
AKA poor planning and inadequate management
, SUTA Dumping
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a transfer of employees between businesses for the purpose of obtaining a
lower unemployment compensation tax rate
- prohibited and subject to criminal and or civil penalties according to state
law
Inland marine/equipment theft insurance
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type of property insurance that you can purchase for your tools and
equipment
- provides coverage for goods in transit and projects under construction
- this insurance is sometimes more than the cost of putting measures in
place to protect your tools and equipment from theft etc.
- equipment theft increases the cost of insurance premiums
Service Corps of Retired Executives (SCORE)
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national volunteer organization of retired executives who can provide
counseling and training to entrepreneurs and business owners
bank letter of credit
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- experience and ability
- character
- equipment
- manner for performance of previous contracts
- financial conditions
- personnel
- work completed
- work on hand
- ability to perform work satisfactorily under contract at the time of
application
- default in complying with provisions of the licensing law or any other law
of the state
- examination results
,four basic requirements of bonds
Give this one a try later!
1. total dollar amt required for the bond
2. length of the bond
3. requirements for notice of defect or lack of maintenance
4. bond enforcement
when determining penalties if wrongdoing by the contractor is determined at the
hearing, these criteria are used :
Give this one a try later!
- willfulness of the violation
- any cost of restoration and abatement
- economic benefit to the violators as a result of noncompliance
- seriousness of the violation (harm to environment, health and safety of
public)
- prior violation by such violators
lien bond
Give this one a try later!
guarantees that liens cannot be placed against the owner's property by
contractors for payment of services
- allows someone to "bond around" a labor or materialmen's lien
,filing process for bond claims
Give this one a try later!
construction law and contractual relationships govern this process
- common law bonds have the process outlined in the bond
- government statues outline the process for statutory bonds
Purpose of the Construction industry payment protection act of 1999
Give this one a try later!
to improve payment bond protections for persons who furnish labor or
material for use on a federal construction project
the top reasons businesses fail
Give this one a try later!
- poor sales
- competitive weakness
- high operating expenses
- difficulty collecting invoices
- inventory problems
- too many fixed assets
- poor location
- fraud
AKA poor planning and inadequate management
, SUTA Dumping
Give this one a try later!
a transfer of employees between businesses for the purpose of obtaining a
lower unemployment compensation tax rate
- prohibited and subject to criminal and or civil penalties according to state
law
Inland marine/equipment theft insurance
Give this one a try later!
type of property insurance that you can purchase for your tools and
equipment
- provides coverage for goods in transit and projects under construction
- this insurance is sometimes more than the cost of putting measures in
place to protect your tools and equipment from theft etc.
- equipment theft increases the cost of insurance premiums
Service Corps of Retired Executives (SCORE)
Give this one a try later!
national volunteer organization of retired executives who can provide
counseling and training to entrepreneurs and business owners
bank letter of credit
