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Understanding General Indemnity Agreement Definitions & Clauses
A General Indemnity Agreement (GIA) is a legal document that outlines the Surety/client relationship. As a contractor, it is important to understand...
Gross Payroll vs. Reportable Payroll
When working on a construction project and participating in a Wrap-Up, you are generally required to submit daily, weekly or monthly payroll reports...
What is Reinsurance?
Risk is everywhere; whether you are a contractor, small business or a large corporation, you must guard against risk. Insurance companies must also...
What is Horizontal Exhaustion?
Insurance can be confusing to understand and often comes with a lot of paperwork. It’s hard to keep track of every project’s requirements that you’re...
How a General Indemnity Agreement Affects Your Construction Company
A General Indemnity Agreement (GIA) is essential in terms of risk transfer, and it is a necessary component of obtaining surety bonds. The GIA is a...
What is Covered Under an OCIP?
Jobsites have a number of risks and it is important to be covered when working on a project. An OCIP, Owner Controlled Insurance Program, is an...
Why Should You Do a G/L Only Wrap-Up?
As an owner with a construction project and an eye towards risk management, you might not realize there are different Controlled Insurance Programs...
What is a Change Order?
A change order is work that is added or eliminated from the original scope of work of a construction contract. This may positively or negatively...
What Does that Indemnification Clause Mean in Your Contract?
All contractors know there are significant risks on every project that are inherent in the construction industry. A contractor's potential risk...