Executive summary. Most traditional bond rates have two variables in their cost: the contract value and the time threshold. Do not forget to include both in time extension negotiations. What’s in a bond rate? The bond rate from your surety agent comes in two parts: (1) the cost as a […]
Introduction to Contractor Estimating
Executive Summary. The reader is introduced to the process of contractor estimating from initial project evaluation through the call for bond, the takeoff, the actual estimating of a civil project, an even the turn in of the bid. Bid Evaluation and call for bond. Contractors consider many facets of a […]
Calculation of Workers’ Compensation (WC), General Liability (GL) & Bond in your Estimates
Executive Summary: Many estimators do not understand how workers’ compensation, general liability, and bond costs are calculated. This article discusses these calculations and how to properly include them in your bid. Workers’ Compensation (WC): Most contractors understand the reason for WC – the reason for WC is to provide wages and medical benefits to […]