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Construction Procurement Optimization Strategies: Enhancing Efficiency and Reducing Costs

Building Radar

With rising material costs and tighter schedules, optimizing construction procurement strategies is essential for enhancing efficiency and reducing costs. Understanding Construction Procurement Construction procurement involves acquiring goods, services, and contracts necessary for completing a construction project.

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Understanding the Essential Insurance Requirements for Construction Projects

Building Radar

Insurance plays a crucial role in managing risks and ensuring the successful completion of any construction project. Common Types of Construction Insurance General Liability Insurance (CGL) Commercial General Liability (CGL) insurance is essential for both general and trade contractors.

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Construction Law 101: Essential for Builders and Renovators

CCR Magazine

Whether you’re building new structures or remodeling old ones, understanding construction law is crucial to keep your projects running smoothly and avoid any legal hiccups. We’ll cover the basics you need to know, from contracts and permits to safety regulations and dispute handling.

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#136:  Fixed Price vs. “Cost Plus” Contracts: Some Considerations

NH Construction Law

When contracting parties agree to a fixed price or lump sum amount for a defined scope of work, the contractor is generally obligated to build that scope of work for that price regardless of what it costs him to do so or what unmentioned obstacles he may face. A measure of trust is accordingly essential in fixed price contracts.

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Avoiding Common Insurance Claims for General Contractors

CCR Magazine

General contractors recognize the necessity of insurance as not just an expense; rather it serves to safeguard them against unforeseeable disruptions that can wreak havoc during their construction projects. Heavy machinery on a construction site can sometimes cause property damage by inadvertently harming structures or other assets on site.

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

Job Order Contracting

Army Job Order Contracts fail to meet critical AFARS requirements most of the time. The J OCPB (JOC Price Book: reflects the current local costs in detail for construction tasks expected to be performed in the geographical area of the base contract with the primary use of developing a detailed line-item price.

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Retainage in Construction: Security Measure for Owners, But What for Contractors?

Buildern

One such measure is the use of a retainage fee, which is a percentage of the contract amount that an owner withholds from a contractor until the completion of the project. After all, who said contractors have lower risks of underpayment and they don’t need their own security measures from owners? What Does Retainage Mean?