#they want to prove the companies fail with US employees so they need to outsource everything overseas?

[turnedpalefromlackofsun]

tumblr is actively hiring AI/ML engineers? ooh fun

why?

[newsabouthrtech]

The Importance of Education Verification to Mitigate the Risk of Wrong Hiring

One of the requirements of a resume is to inform a potential employer of the candidate’s educational qualifications. The information is important because it helps the employer know if the candidate has the right credentials for the job. But, can we always take a resume at face value? With competition for good jobs being so high, it is not uncommon for desperate candidates to display false information about degrees that they don’t actually possess. In fact, entire scams have developed around the fake degree racket with individuals, for a small price, being able to buy certificates for courses they never actually took. As per an article in the Times of India published a few months ago, in Hyderabad alone there are three to four reported cases a month of fake certificates being produced. There have been far too many incidents where candidates have provided false education credentials, reinforcing the need for education verification of candidates.

Why companies need to conduct an Employees Education Check

As stated earlier, it is not hard for employment candidates to produce fake certificates. If companies go by these certificates and don’t conduct education verification checks, they are putting themselves at risk. There are several reasons why a candidate could produce fake certificates and fail an education check. Ranging from less to more serious, these include: – Has tried but been unsuccessful in passing exams. – Desperate to get a job. – Has a criminal record and wants to hide actual identity. – Is actively trying to scam the company/ fellow employees/ customers. All of these reasons make a candidate less than ideal for hiring. An education check will help identify these candidates who do not meet the company’s standards. On the other hand, hiring an employee without an education check could prove disastrous for a business.

How can Education Verification help mitigate risks?

Another article in First Post states how 4,000 students of an Indira Gandhi National Open University center, received fake certificates without attending class or giving any exams. With the menace so rampant it is imperative that all companies conduct employee education checks. When you do an    employees education check , you get to verify the following: – If the institute that the certificate is from actually exists. – If the institute has been linked to a fake degree scam in the past. – If the candidate was enrolled with the institute that is stated on the resume. – If the candidate is qualified for the applied job. – If the candidates have the right knowledge and skills for the job. Any discrepancies that arise during an education verification of a potential candidate can prompt further digging into that person’s past. If the person is found to have a criminal past or has assumed a false identity, then companies can reject that applicant. Rejecting an applicant with a dubious resume right at the start can save the company a lot of time, money, embarrassment and possibly even lawsuits. An education check is both useful and necessary.

AuthBridge for Employees Education Check

AuthBridge conducts education background checks for companies. When you decide to outsource the education verification services to AuthBridge, you can save on the time and effort. With all the required infrastructure in place, outsourcing education check to AuthBridge can prove to cost-effective for organizations. With our advanced service capability, we can conduct education verification of employees in a short amount of time giving you the relevant and reliable data that you require to make the right hiring decisions. This article was originally published in Authbridge.

[thetaplowgroup]

Sucession Planning - Why's it Needed

There's an adage that sums up the advantages of succession planning perfectly: "if you fail to plan, you plan to fail." When your business is running smoothly, and the economy and your financial future appear secure, it can be difficult to take a step back and consider what would happen if one of the building blocks suddenly disappeared. The goal of Leadership Development Management Services is to make you well versed with the term of succession planning and making your organization strong enough in the time t of a sudden change. Your company may not get a second chance if it does not adapt immediately and fills up the void caused by the sudden disappearance of the building block, because you failed to create an orderly succession plan. No organization can ever predict when a serious illness, accident, disaster, or pandemic will strike, but they can always plan for what they'll need to do if it does. Further we shall discuss how disaster management is an inevitable part of an organization, succession planning too has become another important function to be taken care of also why and how succession planning is important. Disaster Control Methods Many business owners are so preoccupied with their company's day-to-day operations that they overlook succession planning. These leaders may believe that they are too young to suffer from a serious illness. Alternatively, they may overlook the possibility that a key player (or several) will be lured away by another company in need of their expertise and willing to pay top dollar for them. Any of these scenarios could make a company particularly vulnerable. The Eternal Retention Tool Most importantly, succession planning allows ambitious, less-experienced internal candidates to know that their hard work and skills have been recognized and valued enough to be considered for advancement. For junior managers and subject matter experts who want to advance their careers into management, this can be an excellent retention tool and motivator. Training Research and Development Coaching, mentoring, job shadowing, or a gradual increase in more advanced responsibilities may all be part of Leadership development coaching. Other jobs may even require the candidate to return to school to obtain additional training or certification. By identifying potential successors early on, you give employees the time to gain the skills and experience they'll need to succeed in senior positions. You also demonstrate to employees that you are willing to invest in their personal development and the companies. Notice what's Happening Explaining the status quo is a simple process that helps reveal flaws in processes and procedures and sales opportunities and opportunities for positive change. This natural process allows your company to keep an extra set of eyes on its senior roles and encourages questioning outdated or inefficient corporate norms. This also creates a healthy competition in the corporate setting; which initiates a sense of fear which allows them to always be one step ahead.The present talent market is candidate-driven and to acquire and retain the best talent you need the most effective recruiting strategies. Our human capital consultancy services go way beyond the traditional approaches to ensure that you find the best talent for your organization. We provide human capital solutions that are tailored for your business. This comes from years of cross-functional and cross-industry experience. Whether you are on the verge of hiring your first employee, going for a merger, or planning to expand geographies, we will help you with a customized hiring strategy, execute it with perfection, and deliver exceptional results for your business. Some of the offerings from our human resource consulting firm include – 1. Complete/partial outsourcing of talent acquisition 2. Corporate contract recruiting for a full cycle/defined time period 3. Project staffing and augmentation 4. Training and development of the in-house employees 5. Evaluation and development of the present talent acquisition strategies Now the big question – why do you need human capital consultancy services? 1. When you partner with us, you partner with years of industry experience and in-depth market knowledge. Our consultants will work with you to increase your talent pool and improve the quality of your talent pool. 2. We not only identify the best talent for you but also conduct the end to end hiring process. Our experts will take care of everything, right from identifying the best talent to a smooth onboarding process. 3. You can now get access to talent across the globe. The best part about remote working is that your employees need not work from your office location. This means you now have access to a vast pool of global talent and that brings more creativity, innovation, and diversity into your organization. 4. Save your time and money when you partner with human resources consulting firm. The experts will take care of the entire process while you can focus on your core business operations. This will save both your efforts and money in the entire hiring process. 5. We ensure complete transparency in the process. Though our consultants take care of everything, we keep our clients updated on every development in the process. Unless we get a green signal from our clients we do not move ahead with any decision. It is a very well-structured, result-driven, transparent approach to talent acquisition. 6. With a proper recruitment strategy in place, you can hire and retain the best talent. This goes a long way in establishing an outstanding work culture within your organization. Employee performance and satisfaction increases when you invest in human capital consultancy services. Overall, you create a happy working environment for all your employees. The right talent will drive your business on the path to growth and success. You cannot afford errors and mistakes; they can prove costly and disastrous. Hence, it is imperative that you invest in human capital consultancy services to secure the right candidates for your organization. We have always outperformed the traditional hiring methodologies and consistently brought in innovation and customization to the recruitment process. We deliver quality in the most agile manner! At The Taplow Group we not only help you source the best-fit for your organization’s leadership through our human capital consultancy services but also train and develop them to hone their skills. To know more about our human capital services like leadership coaching, professional hiring, management consulting, reach out to us at www.taplowgroup.com

[christiandaulong]

5 Biggest Problems for Small & Medium Business that Lack Accounting Processes

Unfortunately in the world of startups and small & medium business, efficient and proper accounting systems and processes are often seen as a nice-to-have rather than a must-have. While we all know that the ideal company infrastructure would include a robust back office, resources often end up focused on the areas that generate revenue. Except there is one problem in this logic—often areas that may not seem to be direct revenue generators can still have a tremendous impact on your bottom line.

In practice, a business that doesn't use reliable accounting services or procedures can experience some real pain, often in the form of missed income and needless losses. Here are some problems commonly experienced by small & medium business who try to operate without the proper bookkeeping services in place.

1. Delayed accounts payable

AP need to be managed carefully in order for a business to be successful. Reputations may be damaged if your company fails to pay invoices on time, but the real danger lies in incurring late payment fees, decreased credit worthiness, losing preferred rates or losing a supplier completely. The more complex the accounts payable, the more important it is that it be managed in an structured manner, paying close attention to reconciliations and integrating the data within the P&L.

2. Delayed accounts receivable

A company's accounting structure not only governs the outgoing expenses. It's also a vital part in ensuring that money keeps flowing into the company. Careful, methodical oversight of cash flow and aging reports is absolutely vital to ensure a viable business. Non-paying clients, slow paying customers and overlooked invoices can put a company out of business over night.

3. Lack of management information

Effective bookkeeping provides business owners with the clearest possible picture of how they are performing, what needs to be improved, and how the future is shaping up. All business plans and KPIs are ultimately measured against the balance sheet, so without an absolutely precise picture of current financial performance, any planning is unlikely to be helpful and more likely to cause problems.

4. Fraud

Trust is a great thing to have among your employees��until you suddenly don't have it. A 2016 study estimates that businesses lacking internal fraud controls as simple as proactive data monitoring experienced fraud twice as much as counterparts that did activel review their financial data. Financial statement fraud was by far the largest contributor to fraud in general. The best way to protect against this type of loss is to ensure consistency, transparency and regular oversight in the accounting department.

5. Planning for taxes

For new businesses that fail, one of the most common causes of death is an inability to meet their tax demands. In theory, proper tax management shouldn't be a problem, yet tax liabilities sometimes prove fatal. The root cause is almost always bad planning and organization in the finance team. Successful businesses have a finance team that plans for the future and considers tax implications as part of a regular routine, including using professional vendors for many tax needs such as payroll tax payments and quarterly filings.

Want to keep your small & medium business financially healthy? Find out if outsourced accounting is right for you.

[wolfmatrix]

9 Ways To Find Developers Who Fit Your Business Need [With 10 Hiring Tips]

Every company requires technical support and assistance to be certain the company runs and functions properly. However, it can be a challenge to get a startup to discover developers and employ them accordingly. The budget constraint and lack of suitable technical knowledge can allow it to be a challenging option. Nonetheless, it's not necessary for every startup founder to become technically sound and skilled to find and hire the skilled team. And there are many other budget-friendly possibilities for handling your technical team.

Similarly, there are lots of other important business functions that require your attention. It might not be possible that you forget everything else and just concentrate on your team. Also, let's not forget at this age, staff diversity and specialists are crucial for the success of a small business. And did you know many businesses fail because of lack of suitable team?

So, it's vital to comprehend the kinds of the specialized staff, in which to locate programmers and how to hire them to make a smart choice.

Let's start!

Kinds of Team

Team work

Generally, your technical team could be categorized into the inhouse staff and offshore team.

1. Inhouse team: This is the conventional way of hiring and managing a staff. That is to say, the in-house team can be understood as the team which you hire and manage. They must come to the office daily at the said time and fill out the specified work.

2. Offshore staff: Offshore team is not a new idea. But lately thanks to each of the technological development it's been gaining a lot of hype. The offshore team could be known as the team that you employ but they work at their convenient location. Meaning they do not have to visit your office to get the job done. They can stay at home or at a park or coffee shop, wherever they feel comfortable to do the job. Depending on the sort of offshore team you manage the team or you don't. Some of the versions of the offshore team provided by our company and others are:

Remote functioning team

Outsourcing (can be job outsourcing or technical team outsourcing)

Staff augmentation

Dedicated developer team

Where to locate programmers?

A. For the in-house staff

A. Find programmers at Social Networking

Social networking is a great place to post your vacancy information. There are many groups where you can place your job details. In the same way, it is possible to run ads on social media relevant to your enterprise. As an example, you can conduct Linkedin advertisements to reach professionals and experts in different fields. Social media works for finding offshore staff too. You can easily target your ads to the states from where you seek the support.

There are plenty of developer communities. Your specialist network can suggest you another upcoming developer with excellent programming skills. Or, they could suggest a pupil or a person with plenty of capability. This makes finding the right developer faster. Because of this, you can effortlessly find programmers with no hassle.

C. Find developers at co-working distances

Co-working spaces are another great place to network and reach to a larger bulk of developers. You may find developers over there or other companies founder or HR who will help you to get in touch with the developers. Likewise you can find programmers from:

Tech conventions

Meetups and hackathons

Private network

Among the greatest ways to find developers who can match your skill and perfectly matches within the company's nature is by making your staff urge them. The staff recommends the ideal match for your business as they understand what sort of abilities your organization is looking for. Additionally, they would want someone in their group who will finish the given work punctually.

However, the quality of recommendation depends on the employee you've got. If your worker is hardworking and highly proficient then they'd wish to work with a person who's equally talented and hardworking. But if your employee is average proficient then they would suggest someone who is worse than them to make it seem like as if they're better.

Finding offshore staff

A. Find programmers through staff augmentation company

If you're living in America and want to recruit a distant employee from Australia, the recruitment process can be catastrophic. So, the ideal way of getting over this is by calling local recruiters. There are lots of businesses providing staff augmentation services. You can easily find one. So, we know exactly how this works.

First of all, they'll look on your requirement and keep you in touch with the developers who fulfill the requirement. Following that, you can select and hire the one which you like. You can pay the regional recruiters specific sum they say and they'll handle and maintain the resources, infrastructures and the developer to guarantee the programmer doesn't depart from your job in the center.

Perhaps you have heard about Upwork? Or Fiver? If yes, then you understand these are the freelancing sites where different accountants work on the job. The job assigned here's temporary. But, that's not the part of the concern. You will find a lot of freelance programmers on freelance portal sites. You can contact and hire the one whose job impresses you.

C. Locate developers through local applications agencies

Another great way to find programmers is by calling local applications agencies of that area. Chances are they have information regarding different programmers in that area. They can tell you all you want to know about the developer like the actual skill they possess, whether they can create a well-functioning program.

In case your project and requirement are far bigger than it's better to opt for agency venture. In an agency partnership, the company will provide you with technical support and help. They work and co-ordinate together with you and complete your project. It is possible to get the whole technical team i.e project manager, QA engineers, back-end programmer, back-end developer as well as other members as required. But it may be difficult to interview them to locate the best ones you can speak to the recruitment portals and tell them to find you one. They'll have the ability to find you a perfect fit without any hassle. In case you decide to employ through recruiting portals then we advise you to decide on a staff augmentation company. As the staff augmentation company will do the exact same and they have contact with highly skilled professionals and they manage resources and infrastructures.

Tips to hire developers

Suggestions to hire great programmers

1. Is the individual smarter than you?

If yes then employ him or her. You want to hire a programmer who has more technical skills and experience than you. The individual ought to be able to help your organization achieve new heights of success. Thus, it's always advisable to hire somebody who is more intelligent than you.

2. Give them the real life technology problem encountered by your company and evaluate how well they perform.

Knowing a programming language or understanding how to use specific tools and methods is not a major thing. Unless you're in a position to solve a real-life issue with it. The principal reason for programming is to solve the problem that has been prevalent for a long time or to reduce the repetitiveness natured work. The interviewee should be able to solve a real-life technology problem in order to prove his eligibility and abilities is well worth it. What is their versatility level with programming languages and resources?

A developer can be an expert in a specific programming language and resources while having some basic knowledge of other tools and languages. And it is better to work with such a developer than with somebody who understands one language by heart but cannot do anything in another language. Also once a programmer knows all of the fundamentals of programming they need ton't have much difficulty working with another programming language. Therefore, you should hire a developer who is flexible with additional programming languages and tools.

4. Do not forget you should hire a developer with good communication skills

Communication skills are extremely important and a good developer needs to master this skill. If a developer does not have proper communication then it can hamper your business a good deal. S/he should communicate the requirements correctly and also get the info given by your customers properly. However well of a developer the person is, s/he needs to have good communication skills to ensure the smooth performance of your business.

5. Ensure you have another person in a meeting to Provide an unbiased opinion

Two-person carrying a scheduled appointment for an unbiased opinion

Occasionally we can be biased towards somebody before knowing. This is truly common whilst working in a team. A leader or supervisor can be biased toward a person before knowing. In the same way, it can happen in a meeting also. So, it's far better to keep another person in a meeting. In this manner, you will be certain there is no nepotism or any biases from the side. Besides, you'll have the ability to hire a worker with good abilities and experience.

6. Set some expectations and chat about it together with the interviewee.

It is always better to put some expectations in the vacant position before interviewing an individual. Rather than what you want that individual to do, it's similar to what you want to have that job position to do. Once you've determined all the expectation you have from the vacant job position, talk it. And figure out whether the interviewee will be able to perform the functions or not.

7. Shift your attention from the resume to just how much ability the Individual has

Many occasions recruiters and managers can be so concentrated on the resume they happen to shift all their focus on the restart than on the real skills the person has. As an example, if you receive a resume of someone who has done engineering from a highly reputed college also has a job experience from a big company then chances are you are a bit more biased towards that person.

Just by looking at the resume you have made your mind up that the person is extremely skilled and it would be nice to have somebody like this person at the job. But in the same case scenario if the exact same individual resume states he has done technology from a faculty whose name you have never heard and has worked in a small company then you would not be biased toward this person. Even if he is the best candidate. Chances are you might not employ him. Thus, you should change your attention from resume to the actual skills the individual has.

8. Somebody Who loves coding/programming is your one

Find developers who love programming

Coding can be boring and repetitive to someone who is not enthusiastic about it. However, somebody who is passionate about coding will be happy to work overtime and give 100%. Since you know they are doing exactly what they love. And work is fun when you're doing something you love. Otherwise, it is possible to see them start making excuses not to come to the workplace or why they didn't complete the job in time. So, it better to locate and hire someone who is passionate about coding and is excited to learn more.

9. Can they write codes that are cluttered?

A person may be highly skilled and write algorithms which are amazing. But if the composed codes are messy then it's basically useless. Because nobody can understand what the individual is attempting to do. And suppose the individual resigns tomorrow and you hire a new person to take over the work then it could be a complete nightmare for the new recruit to look and comprehend that the cluttered code. In this manner, the whole code becomes more waste and odds are it must be written once more. As a result, the general cost tends to be higher due to the messy code. Thus, it's better to hire developers who write codes that are clean. It's beneficial for your business in the long term. Is it true that the individual fit in the group?

This has to be the main aspect to take under consideration whilst hiring a programmer. The person needs to be culturally match in the team. Without it, perfect coordination and cooperation are not possible within the group. But how can we discover if the person is ideal fit in the group or not? I suggest rather than asking'yes' or'no' query ask personal behavioural concerns. Questions such as the only Elon Musk's ask --"Tell me about a few of the most troublesome problems you worked and how you solved them." -- can help you to get a better idea of what sort of person you are interviewing.

However, before deciding whether the individual is appropriate for your team or not you should know what kind of person you're searching for. If you do not know what you're searching for then chances are you won't ever discover it. So, the first step has to be you determining your small business work environment. Then you need to take into account the character of the team with whom the new hire will work. Last, you need to prepare questions that will able you to identify whether the person is appropriate for your company or not. And if the interviewee answers the question in a way that makes them look good or doesn't reflect their true character then it's far better to ask them to come about for another round of interview.

To complete, you can readily find developers and employ them. But you ought to be careful as the bad one can destroy your organization. And a good one will surely benefit. If you figure out how to follow what I have written in the above points then chances are you will find and employ a good match for your business.

Are you Looking for Mobile Application Development Agency that can work as your technical partner then Wolfmatrix is here to give you the best result!

[cool-sharoon]

Job Interview Tips and Tricks

A job interview may be considered an opportunity to sell yourself to a potential agency. While this is probably a barely exaggerated description, in some approaches it’s true. Interviewers are critiquing you, assessing your skills, comparing your qualifications, and looking to see whether or not you're the fine fit for their organization.

Tips and Tricks for a Successful Job Interview

Here are a few hints and tricks that will help you ace your job interview.

1. Research the Company Before the Interview

Research the organization prior to the interview. Hiring managers realize that they’re dealing with someone who is severe about the location whilst the candidate has taken the time to analyze the company.

Search engine research can flip up valuable facts on most companies. Do your fine to locate evaluations from personnel and clients on sites like Glassdoor.Com.

For startup companies, attempt to discover who the buyers and partners are, as well as how much cash they have raised so far. Be conscious that a startup job won't be a lengthy term (ought to the new business fail), but getting into the ground ground of a profitable organization can prove profitable for you down the road.

2. Plan What You’re Going to Wear

First impressions are the most vital in job interviews. If you’re no longer positive what to put on, ask ahead of time about the administrative center's dress code. The secure wager is to dress professionally, being attentive to grooming, soothing colors, and tasteful accessories.

If you’re actively seeking employment, have a couple of interview outfits ready. That will help avoid the strain of figuring out what you’re going put on at the closing minute.

3. Practice Interview Techniques and Responses

Employers will attempt to task interviewees with tough questions to choose their compatibility and to look how they cope below stress. Expect questions on work experiences, disturbing moments, difficult decisions, and wherein you see yourself in numerous years.

Practice answering some of the same old interview questions. If you feel overly nervous about the interview, have a member of the family or friend role play because the interviewer and video record yourself. Dress in that interview outfit you simply picked out, so that you feel the part.

While no one desires to hire a person who acts mechanically and springs across as too rehearsed, feeling prepared assists you to sense confidence enough to be yourself. In turn, this may enable you higher to recall relevant info from your beyond employment during the interview.

For many people, the best manner that they do well in interviews is through doing a number of them. If this is applicable to you, it could be in your exceptional hobby to take an interview, even if you aren't very excited about the task. While you need to never allow directly to a business enterprise in the moment when you don’t care about the activity, setting yourself inside the interview “chair” extra than once lets you nail the massive interview for the task which you really want. And who knows? After the interview, you may find which you do want the activity after all.

4. Prepare for Behavioral Interview Questions

Employers use behavioral inquiries to dig into past achievements and to predict future performance. Behavioral questions are the ones that provide the interviewer perception into your character and emotional intelligence in the place of job.

These questions identify applicants' key skills and competencies, so it’s important to prepare solutions to healthy competencies to the corporation’s requirements. Focus on past achievements that highlight your abilities in leadership, teamwork, problem-solving, struggle resolution, and studying from failure.

5. Make a Pit Stop

If you’re harassed and there’s a relaxation room you can use before you go to the interview, stop in and take a few deep breaths to calm down. Wash and dry your fingers to limit sweaty palms.

If you're a coffee drinker or smoker, or you have got a meal earlier than an interview, use a mint or brush your teeth earlier than starting.

6. Arrive Early, But Not Too Early

Arrive at your interview about 5-10 minutes early. Good employers feel punctuality, and in case you arrive even a minute late, you will probably provide a terrible first impression. Arriving extra than 10 minutes early can put undue strain on the interviewer, particularly if they have some interviews to get through inside the day.

Rushing will negatively have an effect on your interview performance, so in case you assume you are probably late, call beforehand to advise them of the situation. If you have an inexpensive excuse, most employers will recognize and can even provide to reschedule.

Tags:  It Staffing Dubai,  Employee Deployment,  Hr Outsourcing Companies In Dubai,  UAE Staffing,  Staffing Agencies In Dubai

[maritzaerwin]

How to Tackle Identity Theft as a Remote Worker

There are more and more remote workers in the modern age. Companies are realizing how effective it can be to have their staff based at home and opening up the possibilities of employing people without having to worry too much about where they are based. 

One issue that a lot of people ignore, but one that is still utterly vital, is identity theft. A number of people simply don’t realize how much of a threat this can be to their life and the problems it can cause. As a remote worker, you might have to consider both your own personal information and that of the company you work for.

In this guide, we’re providing some of the information you need to ensure you are preventing and tackling ID theft. We also show you what steps you can take if you are unfortunate enough to fall foul of online fraudsters.

What is Online Identity Theft?

Identity theft is nothing new. People have been stealing identification via Social Security numbers and other details for a long time, usually by stealing wallets, but historically some people would go through mail to find details for identity theft.

In the modern age of the internet, it is easier for people to find personally identifiable information. This is sometimes abbreviated to “PII”. This allows people to commit fraud and pretend to be you. They can sometimes steal money directly in this way, but they can also do things to impact upon your reputation or, in the case of employees they might be able to gain access to company servers or more.

Remote workers need to think about the impact of their identity being stolen, access to their online accounts, and more, but if you don’t take the right precautions you can even be responsible for issues regarding your work details. 

Identity theft used to require physical documents to commit this kind of fraud, but now, things have changed. Details can be stolen in a number of ways and networks and websites can be hacked to allow fraudsters to find PII.

How Serious is Identity Theft?

It’s easy to think that identity theft isn’t too much of a big deal or assume that nobody could impersonate you so there’s nothing to worry about. Actually, once they have your details people can take advantage in a lot of different ways. 

Identity theft crime statistics are scary. 16.7 million people in America suffered some form of identity theft in the year 2017. That figure is continuing to grow. Billions of dollars are stolen every year using identity theft methods. 

If you find yourself the victim of identity theft it might be impossible to recover all of the assets you have lost or the damage to your reputation or the company you work for. This means that identity theft is a huge issue that can impact years of your life.

Also, people can commit crimes and run up debts in your name. This can leave you facing a legal battle in the future, too. Make no mistake about it, identity theft is incredibly rife and can make an impact for a number of years in the future.

This is not something you will necessarily have out of the way in a matter of weeks. Even if you contact the authorities and explain that you have been the victim of identity theft, the onus might be on you to prove this. 

Cybercrime is on the rise. 3.2 million identity theft, cybercrime, and other forms of fraud were reported in 2019. As you can see from this article, almost half of the time when people stole someone’s identity, they applied for a credit card. This debt doesn’t automatically get written off. You will need to prove that you were a victim of fraud and take action if this happens to you. Until then the debts could be in your name.

How Does Identity Theft Happen?

It is easy to assume that you have done the right things and won’t be a victim. Just changing your password from time to time isn’t necessarily enough. There are lots of ways in which people can steal your ID details online.

Phishing is still popular, even though most people know to be very careful with emails. Phishing can be a big issue for remote workers who might get targeted when people want to gain access to company information. Never go to your bank’s site via a link, as it could be fake. The government has provided advice on avoiding phishing scams here.

Pharming is another sophisticated way for cybercriminals to steal your personal information. This is when a criminal might have got a virus into your browser allowing them to redirect you to a fake site, but one that actually looks trustworthy. This is where you’ll be asked to input details.

Weak passwords or using the same password for everything is always a risk. If you can, opt to use multi-factor authentication, where you use your smart device as well as your password to prove you are who you say you are.

Malware and other viruses or software that can attack your PC. This will potentially allow a hacker or fraudster to gain control and to see your details. You will probably want to keep your operating system updated and you will definitely want to get some sort of virus protection. Working for a company means that if you have a work computer, you should already have this in place.

Fraudulent or unsecured sites. Websites that don’t provide you with proof of who they are can hurt you. Look for the padlock sign in your browser which shows that a site has a security certificate. 

Old devices you have got rid of can also be used against you in this regard. Some criminals can find your old data just by going through a discarded laptop, for example.

“Over The Shoulder” techniques. Someone can watch your input data. It’s as simple as that. If you are in a co-working space, for instance, you might be targeted by someone looking to steal your data.

You need to have your guard up. Identity theft is becoming more sophisticated and people will always look for new ways to get your personal information. For a criminal, it can be very lucrative.

What Happens When Your Identity is Stolen?

Identity theft can lead to your data being sold. People sell it on the dark web, and this means that people all over the world could be using your data to borrow money, make applications, and even commit other crimes.

Generally, most of the consequences that happen after your identity is stolen have some sort of financial gain for the criminal. As a remote worker, it could be that someone is looking to steal your data to gain access to the company you work for. Organizations need to be especially careful. As an employee, this doesn’t fall solely on you, but it is important that you consider the best practices for keeping data safe.

How to Prevent Identity Theft

If you’ve found this article in advance of having to deal with the consequences of identity theft then there is still a lot you can do to hopefully ensure you never have to deal with it happening to you.

If you are working for a large company or your data is particularly sensitive, it makes sense to outsource all of your online security. There are organizations that know exactly how to keep your ID safe and secure and can help both individuals and organizations, even large organizations might find that they are lacking in precautions.

The best thing to do for peace of mind is to work with the professionals and make sure that identity theft doesn’t become a big hassle for you in the future.

Now, this might be a different story for business owners who work remotely. Many remote business owners get targeted for online identity theft. This can prove deadly for the business; many businesses fail right after they get their online security breaches.

It is essential for every company on the internet to implement security measures for it to succeed. This could be achieved either by outsourcing your identity security or, you can do it yourself. Even though it is advised to leave it to the professionals, you can still tackle this problem and be safe on the internet:

The most important thing you should do is doing your research thoroughly regarding this issue. It is essential because it not only involves buying software or implementing new technology. It also requires education and hours of reading and watching videos. Hence, it is more complicated than you think. You may find more information here.

Source – DepostiPhotos.com

There are some basic things you can do:

Change passwords regularly and generate them rather than just use your cat’s name! People will find a way to get through basic and simple passwords so they should use a lot of different characters. 

Never automatically trust a link that is sent to you. Check if the website is secure and don’t put any details in on a site that you have even one doubt about. Things like online banking are prime examples. Always visit their sites through your browser rather than just clicking on a link in an email. This is prime for someone to take advantage of phishing.

Have a high-quality anti-virus on your computer. If you are running a big company then you should definitely ensure you have access to this for all of your staff.

Don’t mix work and personal life. A working computer should be for work and your personal devices should be for your own accounts on things. If you log into work emails on a laptop that is yours, and you don’t take the right precautions, you could be accountable if anything happens.

How to Tackle Identity Theft When it Happens

If the worst does happen and you find yourself a victim of identity theft, don’t panic. There are steps you can take to try and minimize the damage. 

If you want to, you can contact the specialists. Again, there are specific companies who can deal with identity theft and help you to ensure that you deal with everything in the correct manner, rather than making mistakes along the way.

You should look to get a fraud alert put on your credit report, this can limit the damage of any credit taken out fraudulently in your name.

Report to the FTC. This is one of the first steps you can take. There is a simple form that you can fill in on an FTC site, IdentityTheft.gov or you can call to speak to a member of staff. Try to gain as much evidence as you can when you are talking to them, ready to show exactly what is happening to your accounts.

Go to your local police. Different police forces deal with the issues in different ways and the location where the offense happened might play a part, but authorities should be alerted straight away.

Freeze credit cards and bank accounts. Stop anything negative from happening while you wait to establish what steps you are going to take. Freezing lines of credit can allow you to ensure that you do not run up further debts without spending anything! Your credit card might be being used on the other side of the world.

Change all of your passwords. One breach is enough to ensure that you should get new passwords for every account you have including social media.

Alert your work if using a work laptop or if the ID theft is in any way linked. If you fear that these details could lead to issues for your workplace then there is no way you should keep it from them. 

If you need to, you can still contact specialists in identity theft who can walk you through all of the steps required to try to get your life back on track.

Conclusion

There is no denying that identity theft can have a huge negative impact on your life, and even on those close to you. If it isn’t properly dealt with then it could keep having an effect decades into the future.

If you haven’t suffered from ID theft yet then you can take steps to ensure your security. If you are working with a company and are worried about their data then this is another reason to take security seriously. Just a few simple precautions can make all the difference, and you need to know what techniques and tactics current fraudsters are using to try and steal your information.

The post How to Tackle Identity Theft as a Remote Worker appeared first on CareerMetis.com.

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Why You Need To Consider Outsourcing Your Business Services

Owning your own home is said to be the American dream. Owning their own business is the way many plan to fund that dream. Statistics indicate that 80% of small business starts fail within the first two years, another 10% within five years. There is no single reason, rather a combination of factors. Those factors generally include: undercapitalization, lack of planning, no experience, insufficient education, loss of motivation beyond the idea stage, inability to understand the hiring process, unfamiliar with tax and legal issues affecting small business owners, trying to do it all yourself, not knowing when to get help and how to find quality coaching/mentoring resources.

Small business owners often find themselves in burnout as they try to do it all. It's hard to delegate your "baby" to others who don't have your dreams for the future. Are those dreams based on reality? To get anything generally requires we have to help others get what they want. Business owners who beat the odds recognize that no matter what, they are in the customer service business, first, middle, and last. Small business owners often bought into the "build a store and they will come" fantasy only to discover that sinking all their capital into a location before they had a market left them financial drained. Many small business owners either develop or market a unique product they hope everyone will want, or they find a niche that is underserved and fill it.

Illustration of a Unique Product: You may have developed the greatest widget ever. It does it all, it can be folded, spindled and mutilated and it will still deliver perfect service every time. For those of us in the real world, we recognize that almost any product has a predecessor. What sets your product apart is how you market it. Take for example how Volvo began marketing their vehicles.

Remember how they would show a head-on crash and you were amazed that the hood folded up in an upside-down "V" protecting the windshield; and, the engine was slanted to go under the car instead of through the firewall into the passenger compartment? We all thought that was innovative and showed superior design, so much so that generations of us bought a Volvo, paying as much as 10-15% more for those 'safety' features. Now, the truth: American auto manufacturers had been using similar safety features for years! Look under the hood of your American made car or truck and note the notches cut into the steel on each side. Yup! Those are there to collapse the hood into the upsidedown "V" position if you get hit head on. Their engines are also designed to drop and go under. That my friend is the power of marketing; but the difference is that Volvo TOLD us about it and that made them look like champs.

What do you do that everyone else does in your business? Who markets that concept as though they invented it? Try this one that I read recently:

"Who do you think brought the idea of payroll services to the market? Why settle for the Johnny-come-lately 'payroll experts' who want to copy our success? Allow us to become your payroll service provider. Our history, experience, and training make us the best choice for your business and we will still be here long after the others are gone. Your payroll services are in the right hands, if you will call today. Cheerful customer service people are standing by for your call. Call XXX-XXXX to put the strongest payroll service provider to work for you. We are ready to serve."

Now, take that ad apart. Did they actually say they "invented" the concept? Not at all, but by clever wording, they positioned themselves as the most established provider. Note how the ad creates the impression that newcomers are merely imitators, without anything original to offer. The third sentence reinforces the first two. The fourth sentence takes the assumptive role that you are already a client; you just don't know it yet. The "if" creates a since of urgency and gives you the sense that your decision is completely yours but is a clever way to push for the decision "today". Finally, the transition is made to calling for an appointment, that nice people with your best interests at heart are eagerly waiting by the phone to fulfill their life-long dream of helping you. The ad is a work of sheer genius.

The truth? This supposed inventor of the concept proved to be a startup company run by a very nice lady working from her home. She had just completed a course on payroll processing after purchasing a payroll module for a well-known accounting software package. Her total experience in payroll included six weeks on-the-job training working for someone else. In our interview, she admitted that the ad had already produced thirty new customers in the first 60 days. She had beat out over a dozen established payroll service vendors who only relied on word of mouth. By running a couple of ads in the local flea market newspaper, posting it on her chamber of commerce website, and by targeted mail, she was processing over 3,500 payroll checks for her clients. At $1.60 per employee per pay period her revenue stream was well over $11,000/month (two pay periods X 3500 X $1.60).

Why did she call us? She was overwhelmed by the volume of work. She didn't have time to stop and hire someone to help her and she was working 14 - 18 hour days. Her business grew so fast that she needed an actual office, a secretary, additional bookkeepers and customer service help. Also, despite having learned to use her accounting software and passing the course for bookkeeping, she didn't have the time to even track her own business. She saw a listing for our company on a local business web page and contacted us for help with hiring and training services, office location finding services, help setting up her new office (furniture, phones, lease agreement negotiation, address changes, business licenses, business cards, brochures, etc.).

Have you considered making a list of things that you know need to get done and then outsource those tasks? The time you save on petty tasks will allow you to grow your business. That is the number one goal you have, growth. If something isn't growing, it's dead! You need to be marketing your business, its services, its image. Hire others to do the day-to-day work and oversee, don't micromanage. Temps are readily available in the current market. For the first time in many years, you can find MBAs with 20 years experience searching for temp and part-time jobs. Take advantage of the times to gain all the expertise and knowledge you can while it is offered.

Here are just a few of the tasks and functions available through outsourcing today:

• payroll management • accounting/bookkeeping • payables and receivables • collections • competitive analysis • sales projections/forecasting • long-term planning • marketing/advertising • building a viable sales force • computer system setup • software installation and setup • data migration to upgraded systems • computer repair and maintenance • web site setup and management • employee benefits, health and other insurance • finding and securing needed financing for expansion and growth • key man insurance, 401K • developing a commission/bonus structure that is fair and rewarding • finding locations for expansion • negotiating with vendors • interim management • temporary staff hiring • staff and sales force training • safety/quality inspections • city/state compliance • quarterly/annual taxes • HR functions like interviewing, and annual reviews • setting up phonebook ads and other advertising • negotiating better supplier rates • finding new suppliers • partnering with other business owners for support • networking • customer tracking • customer data base management • new market development • research and development

Rank the items that you feel are most important to the growth of your business. Carefully review which items are dependent on other things happening first. Separate out the tasks that are independent and delegate them to the person best able to get the job done or consider hiring a temporary assistant to locate the people and companies best suited to help you cover those tasks. Then, concentrate on the more important tasks. Ask yourself, "If I found a capable person would I be willing to delegate this task?" Then, make your goal to find and hire a temp or long-term individual to accomplish that specific task. Hire for the task!

Taxes Everett

[cool-hrconnectus-blog]

Payroll Outsourcing Singapore

Due to increasing employment in Singapore, there are several employment acts that were introduced by the government to keep up with this boom and to protect workers from being violated in any way. As the Singapore employment act suggests that any company that fails to give their employees the precise salary within seven days after the end of the salary period will be penalized under the law. This has put extra pressure on companies to ensure that their employees are paid on time and without any error or mistake.

Most companies might believe that the payroll process is far easier to handle but only a few actually realize its complexity. The whole payroll process requires every little calculation. One mistake and you are back to where you started. The situation is far more complexed if you are still calculating it the traditional way. Running an in-house payroll process not only requires additional use of resources but also increases your operational cost and waste your employees working time. There is one way you can comply with the law while also save working time- that is through outsourcing. Outsourcing your payroll process will not only help you save time but also help you enjoy the benefits that come with making payment to your employees on time. Fortunately, there are many proven solutions and agencies in Singapore that are willing to cater to your payroll processing needs.

Click here:

Payroll Outsourcing Singapore  

Payroll outsourcing is simply hiring a third-party company to oversee the administrative and compliance functions of paying your employees. It is important to know that payroll services do not offer an employment record or hiring of an employee. Similarly, other aspects of employment must be handled internally or by suitable agencies. The question of when to consider outsourcing your payroll depends on several factors. Both small and large-scale firms can immensely benefit from outsourcing their payroll processing.

Why outsource your payroll process?

Let’s just say payroll processing is far more complexed now then it was once before. Payroll no longer means paying your employees. It is a part of an administrative task and requires well-trained staff. Payroll processing can be costly and time-consuming when it comes to hiring well-trained staff and/ or concentrate your company’s resources on a task that can simply be outsourced. Outsourcing payroll processing will help your company use its resources efficiently elsewhere and reduce overall cost that was incurred otherwise.

Benefits of hiring a third-party payroll service in Singapore

As mentioned above, payroll processing is no easy task and is often far more complexed. Hiring a third-party payroll service in Singapore can be beneficial in more than just one way.

Use time for other core functions of a business

Payroll processing might not seem as important as marketing. It can be outsourced to save you some extra time that can be invested back into the business. How? Surprisingly, payroll can be time-consuming and result in less time for other core activities of a company. There is also a range of laws aimed at employees. Complying with them is a necessity now. Having your staff concentrate on minor details to comply with labor and employment laws in Singapore can be a tiring task. It would also mean that your staff will have to put in extra time and effort that could have been used on other necessary tasks. Hence, outsourcing payroll processing to a third party can help you and your staff concentrate on other core activities of a business.

Access to Technology

Investing in technology to bring a change every now and then can be expensive and costly. By outsourcing payroll processing you can now bring change only that you won’t be directly paying for it. The third-party will be responsible to keep up with the latest technology and hiring experts to operate it. Moreover, technology can be extremely useful especially when it comes to performing mundane tasks. Payroll processing can be boring. Outsourcing such tasks can be beneficial especially when it comes to motivating employees. It also means that you and your employees can have access to electronic as well as carbon-based hard copies of payslips whenever they want. Outsourcing payroll processing does not seem like a bad option now!

Click here:

Payroll Outsourcing  

Cut down on risks and costs

Having an outside party do your payroll can save on costs and minimize risks. In Singapore, most companies end up over-paying their employees by a margin of 4 percent. The reason is poor data keeping and inaccurate employee time records. By keeping timely and accurate records you can save a lot in terms of both the risk and cost. Companies that do in-house payrolls are most subjected to paying penalties due to errors and violations.

Access to a number of other services

Your in-house staff can only do so much. Outsourcing your payroll processing means you can have access to a number of diverse skills all under one roof. Apart from the usual bookkeeping and typical payroll processing, you get access to a number of value-adding services such as labor law compliance, accounting advanced payroll and other HR services. Moreover, these third-party organizations ensure that their records are in accordance with the industry-wide standard. Most organizations would think it is smart not to outsource their payroll processing to third-parties because they are costly. Nonetheless, outsourcing can actually help you save on plenty of hidden costs.

Why Outsource payroll?

Singapore is now a hub for major industries and therefore, provides huge employment opportunities. It also means that industries are in severe competition with each other. They are striving every day toward achieving productivity and cost-efficiency. To focus more on other business functions or to simply increase efficiency, companies are willing to outsource their routine tasks. Payroll processing counts as one such task.

Why outsource payroll services in Singapore? Payroll service providers offer an attractive alternative to in-house payroll processing. A good payroll service company can provide simpler means of paying your employees, filing CPF and performing a bundle of other duties. They can help you in making fewer mistakes and errors while performing payroll and use technology for efficiency. This is one reason why organizations are becoming increasingly dependent on a payroll company to enhance their HR and payroll processes.

Being the owner of a small company means you are responsible for carrying out almost all of the functions of a business. Outsourcing a few tasks can prove to be beneficial especially as it will give you time to focus on performing other activities.

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Real Estate Lawyer Heber City Utah

Construction contracts

are complex. Never attempt to prepare a construction contract without the services of an experienced Heber City Utah real estate lawyer or sign one for that matter. You could get into a big mess. Always use Utah Real Estate Lawyers when it comes to real estate in Utah.

Bonds in general involve a payment by the contractor to a third party who is able to guarantee certain behavior or performance by the contractor. In the event the contractor fails to perform in the way specified, the bonding agent or surety is obligated to pay the party outsourcing for the service a set payment. Bonds are essentially forms of insurance. As with all insurance, there is a potential for abuse. For example, if a contractor has purchased a performance bond, there may be an increased tendency on the part of the property owner to reject the work or products produced under the contract for less than valid reasons. In cases where the value of the bond is greater than the value of the final product, this temptation is particularly strong. This situation is most likely to happen in cases where there is a good likelihood that the product or service being provided may be quickly outdated. In a situation where the product is no longer serviceable by the time it is delivered, the property owner may look for an excuse to find fault with the performance of the contractor and invoke the protection provided by the bond. Specific types of bonds include (1) performance bonds that require the contractor to perform as specified in the contract, (2) bid bonds which insure that the contractor accepts the contract that has been bid upon, and (3) payment bonds that insure payment for services rendered or goods delivered. If you are a construction contractor and you have been asked to sign a contract, consult an experienced Heber City Utah real estate lawyer.

Liquidated damages provisions require the supplier or service provider to pay the property owner (buyer) a specific amount for the failure to provide a level or quality of service that is specified in the contract and that results in some level of damage to the property owner. Liquidated damages can be assessed for each day beyond the delivery date that the supplier fails to deliver on the contracted product or service, for unusable goods or services, and for services that have been judged unacceptable by an agreed upon measure of service quality.

Liquidated damages in many cases can be assessed against or deducted from the payments that the property owner would make to the contractor. Property owners need to be careful in crafting liquidated damages clauses. The courts generally do not allow liquidated damages provisions to be used as a means to penalize contractors. Instead, such provisions are designed to compensate the property owner for actual damages and must therefore meet a standard of being reasonably connected to actual damages experienced. For example, imagine that a liquidated damages clause in a construction contract required that the contractor provide a financial report by the first of each month or, alternatively, pay the property owner $15,000 (or have the property owner’s payment to the contractor reduced by $15,000). One month the contractor fails to provide the report by the first of the month, but does deliver the required report by the fifteenth of the month. In this case, unless the property owner could prove that the delay of the report actually caused approximately $15,000 worth of damage, the courts would probably rule that the amount of the claim was out of proportion to the extent of the contractor’s performance failure and not allow a liquidated damages claim. One potential consequence of the court ruling that a liquidated damage clause is unreasonable is the complete setting aside of the clause. In such a case, the property owner could be left without the ability to be compensated for the contractor’s poor performance. Because reasonableness is the standard for judging the validity of a liquidated damages clause, property owners need to develop methods for assessing damages in proportion to the whole value of the contract or contract payment.

No damages for delay terms essentially excuse the property owner or buyer from responsibilities for delays that the property owner itself causes. If the work to be done requires a high level of contribution from the property owner or a substantial amount of coordination between the property owner and the contractor, the no damages for delay clause represents a major shift in risk from the property owner to the contractor. Contractors, for the most part, are unwilling to assume such a risk without the potential for higher-than-normal levels of compensation. No damages for delay clauses are probably only appropriate when the property owner must be sure that the work will be completed on time even if the property owner’s own personnel are unable to facilitate the work in the expected manner. Property owners who find themselves requesting this type of clause could perhaps make a larger contribution to property owner efficiency by notifying responsible officials that improvements need to be made in operations.

Clauses related to consequential damages control for substantial unforeseen and undesirable results of using a product or service. For example, the property owner may want to purchase some new water valves at a substantially lower cost than normal. The valves themselves may only cost a few hundred dollars, but the failure of a single valve could result in water damages in the millions of dollars. In reading the sales contract the property owner is likely to notice that the valve’s manufacturer has included a clause that requires the purchaser to forego suing for consequential damages or the damages that result from the failure of the part. In technologies that are subject to the potential for large consequential damages, such clauses can explain large differences in price that are otherwise unexplainable. Because the Uniform Commercial Code generally allows for consequential damages, the typical contract language in this area will be a disclaimer of such damages.

Assignment clauses are used to control for the possibility of a contractor winning the contract award and then assigning the work to another service provider.

Force majeure is a legal doctrine that excuses contractors or the property owner from performing their contracted duties because of conditions beyond the control of the respective parties (e.g, bad weather, vehicle breakdown, civil disturbances, etc.). Force majeure clauses are typically included as a boilerplate in most contracts. In some cases, however, property owners need to be careful not to include such clauses. When the point of the contract is to provide for emergency services (e.g, to back up service providers who have failed to deliver because of conditions beyond their control), force majeure clauses should either not be included or should be qualified so as to exclude conditions that the service provider is expected to overcome.

Clauses related to being an independent contractor are often included in contracts as a means of establishing that the contractor cannot claim benefits (e.g., overtime, etc.) to which property owner’s employees are entitled.

Requirements contracts clauses specify that the property owner is only contracting for services as required, that the payments or contract value is only estimated, and that the property owner does not guarantee the amount of work or requirements over the course of the contract. These clauses are commonly used in conjunction with services, such as snow removal, vehicle repair, tree removal, emergency response services, and facilities renovation work, for which a service level cannot be easily estimated.

Risk-related clauses are those that attempt to appropriate the risk levels to be borne by the parties to the contract. Not every contract involves every type of risk. Good contract management calls for a close fit between the type and level of risk involved in the contract and the type and degree of risk-management contract terms that one intends to require. Assessing the potential for risk is not always easy, but experience suggests that a number of conditions are related to risk, including such factors as the length of the preexisting contractual relationship, the reputation of the contractor, the complexity of the work, the reliability of the subcontractors, and so on.

While it may be relatively easy to assess the potential for higher-than- average risk in a contract, it is often more difficult to decide how to manage this risk. This is the case because each of the risk-management clauses outlined has a cost. The cost is rarely explicit or itemized. Instead, it is usually included as part of the overall contract payment cost. Theoretically speaking, the contractor could lower the contract price for every risk-management clause or behavior that the property owner decides not to require. Sometimes the theory is evident in real contract situations. For example, if the property owner decides not to require a performance bond, companies that bid on the contract should be able to lower their price by the cost of the performance bond. While this may be the case in uncomplicated bidding situations (e.g., where all the bidders are not already bonded and where all performance bonds are nearly equal in price), the risk-for-cost tradeoff is more likely to occur in an indirect, rather than direct, manner. For example, the property owner may decide that a performance bond that is regularly needed in a particular type of work will not be required in a particular instance of the work being contracted. Payment Terms or Provisions. These clauses would outline the payment type (e.g., fixed, reimbursement, etc.), the schedule of payments, and the maximum and minimum payment amounts.

Contract Change Provisions

Most contracts will specify a method by which the parties agree to make needed changes to the contract. Sometimes change clauses are as simple as a statement that the parties can change the contract by mutual agreement. At other times, it may be more efficient to allow one party to unilaterally make specific changes or a certain number of changes within a certain time frame. For example, in complex building projects, the project manager may be given authority to change certain material specifications as long as they are of equivalent or better quality.

Contract Suspension Provisions. There may be times when the property owner would want to have a right to suspend the work that has been contracted. For example, if the property owner plans to pay for a project out of expected sales receipts, a situation may occur where the property owner fails to collect the expected level of sales receipts according to schedule. If this schedule is closely tied to the project itself and the property owner has not allocated any other resources to the project, it may be necessary to suspend the contract until the necessary funds are collected. Contract suspension, however, is usually not a cost-free activity unless this is clearly specified. Without provisions for the orderly suspension of work, the cost of suspension to the contractor (e.g., in terms of lost work, funds expended on subcontractors and materials, warehousing costs, etc.) can form the basis for a claim against the property owner. Contract suspension provisions typically include a limit on the amount of time in which the contract can be suspended, as well as specification of some compensation to the contractor for the suspension costs incurred.

Contract Renewal Provisions. Contract renewal provisions are important in keeping the cost of property owner contracting down. Contract renewal provisions allow the property owner the option of renewing the contract at the current price without having to bear the cost of rebidding the contract. It is often the case, however, that because of inflation a contractor will not be interested in the renewal offer at the same price. If this is likely to be the case and the property owner wants to keep the renewal option alive, the contract will need to include a price adjustment or escalator that will allow the contract value to be maintained in the face of price or wage inflation.

Speak to an experienced Heber City Utah real estate lawyer. The lawyer can prepare a customized construction contract for you.

Heber City Utah Real Estate Lawyer Free Consultation

When you need legal help regarding real estate law in Utah, including purchase and sale agreements (REPC) or a commercial real estate deal, real property litigation, real estate partition actions, evictions for landlords, or other real estate cases, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506

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Real Estate Lawyer Heber City Utah

Construction contracts

are complex. Never attempt to prepare a construction contract without the services of an experienced Heber City Utah real estate lawyer or sign one for that matter. You could get into a big mess. Always use Utah Real Estate Lawyers when it comes to real estate in Utah.

Bonds in general involve a payment by the contractor to a third party who is able to guarantee certain behavior or performance by the contractor. In the event the contractor fails to perform in the way specified, the bonding agent or surety is obligated to pay the party outsourcing for the service a set payment. Bonds are essentially forms of insurance. As with all insurance, there is a potential for abuse. For example, if a contractor has purchased a performance bond, there may be an increased tendency on the part of the property owner to reject the work or products produced under the contract for less than valid reasons. In cases where the value of the bond is greater than the value of the final product, this temptation is particularly strong. This situation is most likely to happen in cases where there is a good likelihood that the product or service being provided may be quickly outdated. In a situation where the product is no longer serviceable by the time it is delivered, the property owner may look for an excuse to find fault with the performance of the contractor and invoke the protection provided by the bond. Specific types of bonds include (1) performance bonds that require the contractor to perform as specified in the contract, (2) bid bonds which insure that the contractor accepts the contract that has been bid upon, and (3) payment bonds that insure payment for services rendered or goods delivered. If you are a construction contractor and you have been asked to sign a contract, consult an experienced Heber City Utah real estate lawyer.

Liquidated damages provisions require the supplier or service provider to pay the property owner (buyer) a specific amount for the failure to provide a level or quality of service that is specified in the contract and that results in some level of damage to the property owner. Liquidated damages can be assessed for each day beyond the delivery date that the supplier fails to deliver on the contracted product or service, for unusable goods or services, and for services that have been judged unacceptable by an agreed upon measure of service quality.

Liquidated damages in many cases can be assessed against or deducted from the payments that the property owner would make to the contractor. Property owners need to be careful in crafting liquidated damages clauses. The courts generally do not allow liquidated damages provisions to be used as a means to penalize contractors. Instead, such provisions are designed to compensate the property owner for actual damages and must therefore meet a standard of being reasonably connected to actual damages experienced. For example, imagine that a liquidated damages clause in a construction contract required that the contractor provide a financial report by the first of each month or, alternatively, pay the property owner $15,000 (or have the property owner’s payment to the contractor reduced by $15,000). One month the contractor fails to provide the report by the first of the month, but does deliver the required report by the fifteenth of the month. In this case, unless the property owner could prove that the delay of the report actually caused approximately $15,000 worth of damage, the courts would probably rule that the amount of the claim was out of proportion to the extent of the contractor’s performance failure and not allow a liquidated damages claim. One potential consequence of the court ruling that a liquidated damage clause is unreasonable is the complete setting aside of the clause. In such a case, the property owner could be left without the ability to be compensated for the contractor’s poor performance. Because reasonableness is the standard for judging the validity of a liquidated damages clause, property owners need to develop methods for assessing damages in proportion to the whole value of the contract or contract payment.

No damages for delay terms essentially excuse the property owner or buyer from responsibilities for delays that the property owner itself causes. If the work to be done requires a high level of contribution from the property owner or a substantial amount of coordination between the property owner and the contractor, the no damages for delay clause represents a major shift in risk from the property owner to the contractor. Contractors, for the most part, are unwilling to assume such a risk without the potential for higher-than-normal levels of compensation. No damages for delay clauses are probably only appropriate when the property owner must be sure that the work will be completed on time even if the property owner’s own personnel are unable to facilitate the work in the expected manner. Property owners who find themselves requesting this type of clause could perhaps make a larger contribution to property owner efficiency by notifying responsible officials that improvements need to be made in operations.

Clauses related to consequential damages control for substantial unforeseen and undesirable results of using a product or service. For example, the property owner may want to purchase some new water valves at a substantially lower cost than normal. The valves themselves may only cost a few hundred dollars, but the failure of a single valve could result in water damages in the millions of dollars. In reading the sales contract the property owner is likely to notice that the valve’s manufacturer has included a clause that requires the purchaser to forego suing for consequential damages or the damages that result from the failure of the part. In technologies that are subject to the potential for large consequential damages, such clauses can explain large differences in price that are otherwise unexplainable. Because the Uniform Commercial Code generally allows for consequential damages, the typical contract language in this area will be a disclaimer of such damages.

Assignment clauses are used to control for the possibility of a contractor winning the contract award and then assigning the work to another service provider.

Force majeure is a legal doctrine that excuses contractors or the property owner from performing their contracted duties because of conditions beyond the control of the respective parties (e.g, bad weather, vehicle breakdown, civil disturbances, etc.). Force majeure clauses are typically included as a boilerplate in most contracts. In some cases, however, property owners need to be careful not to include such clauses. When the point of the contract is to provide for emergency services (e.g, to back up service providers who have failed to deliver because of conditions beyond their control), force majeure clauses should either not be included or should be qualified so as to exclude conditions that the service provider is expected to overcome.

Clauses related to being an independent contractor are often included in contracts as a means of establishing that the contractor cannot claim benefits (e.g., overtime, etc.) to which property owner’s employees are entitled.

Requirements contracts clauses specify that the property owner is only contracting for services as required, that the payments or contract value is only estimated, and that the property owner does not guarantee the amount of work or requirements over the course of the contract. These clauses are commonly used in conjunction with services, such as snow removal, vehicle repair, tree removal, emergency response services, and facilities renovation work, for which a service level cannot be easily estimated.

Risk-related clauses are those that attempt to appropriate the risk levels to be borne by the parties to the contract. Not every contract involves every type of risk. Good contract management calls for a close fit between the type and level of risk involved in the contract and the type and degree of risk-management contract terms that one intends to require. Assessing the potential for risk is not always easy, but experience suggests that a number of conditions are related to risk, including such factors as the length of the preexisting contractual relationship, the reputation of the contractor, the complexity of the work, the reliability of the subcontractors, and so on.

While it may be relatively easy to assess the potential for higher-than- average risk in a contract, it is often more difficult to decide how to manage this risk. This is the case because each of the risk-management clauses outlined has a cost. The cost is rarely explicit or itemized. Instead, it is usually included as part of the overall contract payment cost. Theoretically speaking, the contractor could lower the contract price for every risk-management clause or behavior that the property owner decides not to require. Sometimes the theory is evident in real contract situations. For example, if the property owner decides not to require a performance bond, companies that bid on the contract should be able to lower their price by the cost of the performance bond. While this may be the case in uncomplicated bidding situations (e.g., where all the bidders are not already bonded and where all performance bonds are nearly equal in price), the risk-for-cost tradeoff is more likely to occur in an indirect, rather than direct, manner. For example, the property owner may decide that a performance bond that is regularly needed in a particular type of work will not be required in a particular instance of the work being contracted. Payment Terms or Provisions. These clauses would outline the payment type (e.g., fixed, reimbursement, etc.), the schedule of payments, and the maximum and minimum payment amounts.

Contract Change Provisions

Most contracts will specify a method by which the parties agree to make needed changes to the contract. Sometimes change clauses are as simple as a statement that the parties can change the contract by mutual agreement. At other times, it may be more efficient to allow one party to unilaterally make specific changes or a certain number of changes within a certain time frame. For example, in complex building projects, the project manager may be given authority to change certain material specifications as long as they are of equivalent or better quality.

Contract Suspension Provisions. There may be times when the property owner would want to have a right to suspend the work that has been contracted. For example, if the property owner plans to pay for a project out of expected sales receipts, a situation may occur where the property owner fails to collect the expected level of sales receipts according to schedule. If this schedule is closely tied to the project itself and the property owner has not allocated any other resources to the project, it may be necessary to suspend the contract until the necessary funds are collected. Contract suspension, however, is usually not a cost-free activity unless this is clearly specified. Without provisions for the orderly suspension of work, the cost of suspension to the contractor (e.g., in terms of lost work, funds expended on subcontractors and materials, warehousing costs, etc.) can form the basis for a claim against the property owner. Contract suspension provisions typically include a limit on the amount of time in which the contract can be suspended, as well as specification of some compensation to the contractor for the suspension costs incurred.

Contract Renewal Provisions. Contract renewal provisions are important in keeping the cost of property owner contracting down. Contract renewal provisions allow the property owner the option of renewing the contract at the current price without having to bear the cost of rebidding the contract. It is often the case, however, that because of inflation a contractor will not be interested in the renewal offer at the same price. If this is likely to be the case and the property owner wants to keep the renewal option alive, the contract will need to include a price adjustment or escalator that will allow the contract value to be maintained in the face of price or wage inflation.

Speak to an experienced Heber City Utah real estate lawyer. The lawyer can prepare a customized construction contract for you.

Heber City Utah Real Estate Lawyer Free Consultation

When you need legal help regarding real estate law in Utah, including purchase and sale agreements (REPC) or a commercial real estate deal, real property litigation, real estate partition actions, evictions for landlords, or other real estate cases, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Helpful Articles

Federal Crimes

Can A Working Wife Get Alimony?

Bankruptcy Lawyer Ogden Utah

Child Support Amounts

Income Tax Fraud

Business Succession Planning

from Michael Anderson https://www.ascentlawfirm.com/real-estate-lawyer-heber-city-utah/ from Divorce Lawyer Nelson Farms Utah https://divorcelawyernelsonfarmsutah.tumblr.com/post/189328649950

[coming-from-hell]

Real Estate Lawyer Heber City Utah

Construction contracts

are complex. Never attempt to prepare a construction contract without the services of an experienced Heber City Utah real estate lawyer or sign one for that matter. You could get into a big mess. Always use Utah Real Estate Lawyers when it comes to real estate in Utah.

Bonds in general involve a payment by the contractor to a third party who is able to guarantee certain behavior or performance by the contractor. In the event the contractor fails to perform in the way specified, the bonding agent or surety is obligated to pay the party outsourcing for the service a set payment. Bonds are essentially forms of insurance. As with all insurance, there is a potential for abuse. For example, if a contractor has purchased a performance bond, there may be an increased tendency on the part of the property owner to reject the work or products produced under the contract for less than valid reasons. In cases where the value of the bond is greater than the value of the final product, this temptation is particularly strong. This situation is most likely to happen in cases where there is a good likelihood that the product or service being provided may be quickly outdated. In a situation where the product is no longer serviceable by the time it is delivered, the property owner may look for an excuse to find fault with the performance of the contractor and invoke the protection provided by the bond. Specific types of bonds include (1) performance bonds that require the contractor to perform as specified in the contract, (2) bid bonds which insure that the contractor accepts the contract that has been bid upon, and (3) payment bonds that insure payment for services rendered or goods delivered. If you are a construction contractor and you have been asked to sign a contract, consult an experienced Heber City Utah real estate lawyer.

Liquidated damages provisions require the supplier or service provider to pay the property owner (buyer) a specific amount for the failure to provide a level or quality of service that is specified in the contract and that results in some level of damage to the property owner. Liquidated damages can be assessed for each day beyond the delivery date that the supplier fails to deliver on the contracted product or service, for unusable goods or services, and for services that have been judged unacceptable by an agreed upon measure of service quality.

Liquidated damages in many cases can be assessed against or deducted from the payments that the property owner would make to the contractor. Property owners need to be careful in crafting liquidated damages clauses. The courts generally do not allow liquidated damages provisions to be used as a means to penalize contractors. Instead, such provisions are designed to compensate the property owner for actual damages and must therefore meet a standard of being reasonably connected to actual damages experienced. For example, imagine that a liquidated damages clause in a construction contract required that the contractor provide a financial report by the first of each month or, alternatively, pay the property owner $15,000 (or have the property owner’s payment to the contractor reduced by $15,000). One month the contractor fails to provide the report by the first of the month, but does deliver the required report by the fifteenth of the month. In this case, unless the property owner could prove that the delay of the report actually caused approximately $15,000 worth of damage, the courts would probably rule that the amount of the claim was out of proportion to the extent of the contractor’s performance failure and not allow a liquidated damages claim. One potential consequence of the court ruling that a liquidated damage clause is unreasonable is the complete setting aside of the clause. In such a case, the property owner could be left without the ability to be compensated for the contractor’s poor performance. Because reasonableness is the standard for judging the validity of a liquidated damages clause, property owners need to develop methods for assessing damages in proportion to the whole value of the contract or contract payment.

No damages for delay terms essentially excuse the property owner or buyer from responsibilities for delays that the property owner itself causes. If the work to be done requires a high level of contribution from the property owner or a substantial amount of coordination between the property owner and the contractor, the no damages for delay clause represents a major shift in risk from the property owner to the contractor. Contractors, for the most part, are unwilling to assume such a risk without the potential for higher-than-normal levels of compensation. No damages for delay clauses are probably only appropriate when the property owner must be sure that the work will be completed on time even if the property owner’s own personnel are unable to facilitate the work in the expected manner. Property owners who find themselves requesting this type of clause could perhaps make a larger contribution to property owner efficiency by notifying responsible officials that improvements need to be made in operations.

Clauses related to consequential damages control for substantial unforeseen and undesirable results of using a product or service. For example, the property owner may want to purchase some new water valves at a substantially lower cost than normal. The valves themselves may only cost a few hundred dollars, but the failure of a single valve could result in water damages in the millions of dollars. In reading the sales contract the property owner is likely to notice that the valve’s manufacturer has included a clause that requires the purchaser to forego suing for consequential damages or the damages that result from the failure of the part. In technologies that are subject to the potential for large consequential damages, such clauses can explain large differences in price that are otherwise unexplainable. Because the Uniform Commercial Code generally allows for consequential damages, the typical contract language in this area will be a disclaimer of such damages.

Assignment clauses are used to control for the possibility of a contractor winning the contract award and then assigning the work to another service provider.

Force majeure is a legal doctrine that excuses contractors or the property owner from performing their contracted duties because of conditions beyond the control of the respective parties (e.g, bad weather, vehicle breakdown, civil disturbances, etc.). Force majeure clauses are typically included as a boilerplate in most contracts. In some cases, however, property owners need to be careful not to include such clauses. When the point of the contract is to provide for emergency services (e.g, to back up service providers who have failed to deliver because of conditions beyond their control), force majeure clauses should either not be included or should be qualified so as to exclude conditions that the service provider is expected to overcome.

Clauses related to being an independent contractor are often included in contracts as a means of establishing that the contractor cannot claim benefits (e.g., overtime, etc.) to which property owner’s employees are entitled.

Requirements contracts clauses specify that the property owner is only contracting for services as required, that the payments or contract value is only estimated, and that the property owner does not guarantee the amount of work or requirements over the course of the contract. These clauses are commonly used in conjunction with services, such as snow removal, vehicle repair, tree removal, emergency response services, and facilities renovation work, for which a service level cannot be easily estimated.

Risk-related clauses are those that attempt to appropriate the risk levels to be borne by the parties to the contract. Not every contract involves every type of risk. Good contract management calls for a close fit between the type and level of risk involved in the contract and the type and degree of risk-management contract terms that one intends to require. Assessing the potential for risk is not always easy, but experience suggests that a number of conditions are related to risk, including such factors as the length of the preexisting contractual relationship, the reputation of the contractor, the complexity of the work, the reliability of the subcontractors, and so on.

While it may be relatively easy to assess the potential for higher-than- average risk in a contract, it is often more difficult to decide how to manage this risk. This is the case because each of the risk-management clauses outlined has a cost. The cost is rarely explicit or itemized. Instead, it is usually included as part of the overall contract payment cost. Theoretically speaking, the contractor could lower the contract price for every risk-management clause or behavior that the property owner decides not to require. Sometimes the theory is evident in real contract situations. For example, if the property owner decides not to require a performance bond, companies that bid on the contract should be able to lower their price by the cost of the performance bond. While this may be the case in uncomplicated bidding situations (e.g., where all the bidders are not already bonded and where all performance bonds are nearly equal in price), the risk-for-cost tradeoff is more likely to occur in an indirect, rather than direct, manner. For example, the property owner may decide that a performance bond that is regularly needed in a particular type of work will not be required in a particular instance of the work being contracted. Payment Terms or Provisions. These clauses would outline the payment type (e.g., fixed, reimbursement, etc.), the schedule of payments, and the maximum and minimum payment amounts.

Contract Change Provisions

Most contracts will specify a method by which the parties agree to make needed changes to the contract. Sometimes change clauses are as simple as a statement that the parties can change the contract by mutual agreement. At other times, it may be more efficient to allow one party to unilaterally make specific changes or a certain number of changes within a certain time frame. For example, in complex building projects, the project manager may be given authority to change certain material specifications as long as they are of equivalent or better quality.

Contract Suspension Provisions. There may be times when the property owner would want to have a right to suspend the work that has been contracted. For example, if the property owner plans to pay for a project out of expected sales receipts, a situation may occur where the property owner fails to collect the expected level of sales receipts according to schedule. If this schedule is closely tied to the project itself and the property owner has not allocated any other resources to the project, it may be necessary to suspend the contract until the necessary funds are collected. Contract suspension, however, is usually not a cost-free activity unless this is clearly specified. Without provisions for the orderly suspension of work, the cost of suspension to the contractor (e.g., in terms of lost work, funds expended on subcontractors and materials, warehousing costs, etc.) can form the basis for a claim against the property owner. Contract suspension provisions typically include a limit on the amount of time in which the contract can be suspended, as well as specification of some compensation to the contractor for the suspension costs incurred.

Contract Renewal Provisions. Contract renewal provisions are important in keeping the cost of property owner contracting down. Contract renewal provisions allow the property owner the option of renewing the contract at the current price without having to bear the cost of rebidding the contract. It is often the case, however, that because of inflation a contractor will not be interested in the renewal offer at the same price. If this is likely to be the case and the property owner wants to keep the renewal option alive, the contract will need to include a price adjustment or escalator that will allow the contract value to be maintained in the face of price or wage inflation.

Speak to an experienced Heber City Utah real estate lawyer. The lawyer can prepare a customized construction contract for you.

Heber City Utah Real Estate Lawyer Free Consultation

When you need legal help regarding real estate law in Utah, including purchase and sale agreements (REPC) or a commercial real estate deal, real property litigation, real estate partition actions, evictions for landlords, or other real estate cases, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Helpful Articles

Federal Crimes

Can A Working Wife Get Alimony?

Bankruptcy Lawyer Ogden Utah

Child Support Amounts

Income Tax Fraud

Business Succession Planning

Source: https://www.ascentlawfirm.com/real-estate-lawyer-heber-city-utah/

[aretia]

Real Estate Lawyer Heber City Utah

Construction contracts are complex. Never attempt to prepare a construction contract without the services of an experienced Heber City Utah real estate lawyer or sign one for that matter. You could get into a big mess. Always use Utah Real Estate Lawyers when it comes to real estate in Utah.

Bonds in general involve a payment by the contractor to a third party who is able to guarantee certain behavior or performance by the contractor. In the event the contractor fails to perform in the way specified, the bonding agent or surety is obligated to pay the party outsourcing for the service a set payment. Bonds are essentially forms of insurance. As with all insurance, there is a potential for abuse. For example, if a contractor has purchased a performance bond, there may be an increased tendency on the part of the property owner to reject the work or products produced under the contract for less than valid reasons. In cases where the value of the bond is greater than the value of the final product, this temptation is particularly strong. This situation is most likely to happen in cases where there is a good likelihood that the product or service being provided may be quickly outdated. In a situation where the product is no longer serviceable by the time it is delivered, the property owner may look for an excuse to find fault with the performance of the contractor and invoke the protection provided by the bond. Specific types of bonds include (1) performance bonds that require the contractor to perform as specified in the contract, (2) bid bonds which insure that the contractor accepts the contract that has been bid upon, and (3) payment bonds that insure payment for services rendered or goods delivered. If you are a construction contractor and you have been asked to sign a contract, consult an experienced Heber City Utah real estate lawyer.

Liquidated damages provisions require the supplier or service provider to pay the property owner (buyer) a specific amount for the failure to provide a level or quality of service that is specified in the contract and that results in some level of damage to the property owner. Liquidated damages can be assessed for each day beyond the delivery date that the supplier fails to deliver on the contracted product or service, for unusable goods or services, and for services that have been judged unacceptable by an agreed upon measure of service quality.

Liquidated damages in many cases can be assessed against or deducted from the payments that the property owner would make to the contractor. Property owners need to be careful in crafting liquidated damages clauses. The courts generally do not allow liquidated damages provisions to be used as a means to penalize contractors. Instead, such provisions are designed to compensate the property owner for actual damages and must therefore meet a standard of being reasonably connected to actual damages experienced. For example, imagine that a liquidated damages clause in a construction contract required that the contractor provide a financial report by the first of each month or, alternatively, pay the property owner $15,000 (or have the property owner’s payment to the contractor reduced by $15,000). One month the contractor fails to provide the report by the first of the month, but does deliver the required report by the fifteenth of the month. In this case, unless the property owner could prove that the delay of the report actually caused approximately $15,000 worth of damage, the courts would probably rule that the amount of the claim was out of proportion to the extent of the contractor’s performance failure and not allow a liquidated damages claim. One potential consequence of the court ruling that a liquidated damage clause is unreasonable is the complete setting aside of the clause. In such a case, the property owner could be left without the ability to be compensated for the contractor’s poor performance. Because reasonableness is the standard for judging the validity of a liquidated damages clause, property owners need to develop methods for assessing damages in proportion to the whole value of the contract or contract payment.

No damages for delay terms essentially excuse the property owner or buyer from responsibilities for delays that the property owner itself causes. If the work to be done requires a high level of contribution from the property owner or a substantial amount of coordination between the property owner and the contractor, the no damages for delay clause represents a major shift in risk from the property owner to the contractor. Contractors, for the most part, are unwilling to assume such a risk without the potential for higher-than-normal levels of compensation. No damages for delay clauses are probably only appropriate when the property owner must be sure that the work will be completed on time even if the property owner’s own personnel are unable to facilitate the work in the expected manner. Property owners who find themselves requesting this type of clause could perhaps make a larger contribution to property owner efficiency by notifying responsible officials that improvements need to be made in operations.

Clauses related to consequential damages control for substantial unforeseen and undesirable results of using a product or service. For example, the property owner may want to purchase some new water valves at a substantially lower cost than normal. The valves themselves may only cost a few hundred dollars, but the failure of a single valve could result in water damages in the millions of dollars. In reading the sales contract the property owner is likely to notice that the valve’s manufacturer has included a clause that requires the purchaser to forego suing for consequential damages or the damages that result from the failure of the part. In technologies that are subject to the potential for large consequential damages, such clauses can explain large differences in price that are otherwise unexplainable. Because the Uniform Commercial Code generally allows for consequential damages, the typical contract language in this area will be a disclaimer of such damages.

Assignment clauses are used to control for the possibility of a contractor winning the contract award and then assigning the work to another service provider.

Force majeure is a legal doctrine that excuses contractors or the property owner from performing their contracted duties because of conditions beyond the control of the respective parties (e.g, bad weather, vehicle breakdown, civil disturbances, etc.). Force majeure clauses are typically included as a boilerplate in most contracts. In some cases, however, property owners need to be careful not to include such clauses. When the point of the contract is to provide for emergency services (e.g, to back up service providers who have failed to deliver because of conditions beyond their control), force majeure clauses should either not be included or should be qualified so as to exclude conditions that the service provider is expected to overcome.

Clauses related to being an independent contractor are often included in contracts as a means of establishing that the contractor cannot claim benefits (e.g., overtime, etc.) to which property owner’s employees are entitled.

Requirements contracts clauses specify that the property owner is only contracting for services as required, that the payments or contract value is only estimated, and that the property owner does not guarantee the amount of work or requirements over the course of the contract. These clauses are commonly used in conjunction with services, such as snow removal, vehicle repair, tree removal, emergency response services, and facilities renovation work, for which a service level cannot be easily estimated.

Risk-related clauses are those that attempt to appropriate the risk levels to be borne by the parties to the contract. Not every contract involves every type of risk. Good contract management calls for a close fit between the type and level of risk involved in the contract and the type and degree of risk-management contract terms that one intends to require. Assessing the potential for risk is not always easy, but experience suggests that a number of conditions are related to risk, including such factors as the length of the preexisting contractual relationship, the reputation of the contractor, the complexity of the work, the reliability of the subcontractors, and so on.

While it may be relatively easy to assess the potential for higher-than- average risk in a contract, it is often more difficult to decide how to manage this risk. This is the case because each of the risk-management clauses outlined has a cost. The cost is rarely explicit or itemized. Instead, it is usually included as part of the overall contract payment cost. Theoretically speaking, the contractor could lower the contract price for every risk-management clause or behavior that the property owner decides not to require. Sometimes the theory is evident in real contract situations. For example, if the property owner decides not to require a performance bond, companies that bid on the contract should be able to lower their price by the cost of the performance bond. While this may be the case in uncomplicated bidding situations (e.g., where all the bidders are not already bonded and where all performance bonds are nearly equal in price), the risk-for-cost tradeoff is more likely to occur in an indirect, rather than direct, manner. For example, the property owner may decide that a performance bond that is regularly needed in a particular type of work will not be required in a particular instance of the work being contracted. Payment Terms or Provisions. These clauses would outline the payment type (e.g., fixed, reimbursement, etc.), the schedule of payments, and the maximum and minimum payment amounts.

Contract Change Provisions

Most contracts will specify a method by which the parties agree to make needed changes to the contract. Sometimes change clauses are as simple as a statement that the parties can change the contract by mutual agreement. At other times, it may be more efficient to allow one party to unilaterally make specific changes or a certain number of changes within a certain time frame. For example, in complex building projects, the project manager may be given authority to change certain material specifications as long as they are of equivalent or better quality.

Contract Suspension Provisions. There may be times when the property owner would want to have a right to suspend the work that has been contracted. For example, if the property owner plans to pay for a project out of expected sales receipts, a situation may occur where the property owner fails to collect the expected level of sales receipts according to schedule. If this schedule is closely tied to the project itself and the property owner has not allocated any other resources to the project, it may be necessary to suspend the contract until the necessary funds are collected. Contract suspension, however, is usually not a cost-free activity unless this is clearly specified. Without provisions for the orderly suspension of work, the cost of suspension to the contractor (e.g., in terms of lost work, funds expended on subcontractors and materials, warehousing costs, etc.) can form the basis for a claim against the property owner. Contract suspension provisions typically include a limit on the amount of time in which the contract can be suspended, as well as specification of some compensation to the contractor for the suspension costs incurred.

Contract Renewal Provisions. Contract renewal provisions are important in keeping the cost of property owner contracting down. Contract renewal provisions allow the property owner the option of renewing the contract at the current price without having to bear the cost of rebidding the contract. It is often the case, however, that because of inflation a contractor will not be interested in the renewal offer at the same price. If this is likely to be the case and the property owner wants to keep the renewal option alive, the contract will need to include a price adjustment or escalator that will allow the contract value to be maintained in the face of price or wage inflation.

Speak to an experienced Heber City Utah real estate lawyer. The lawyer can prepare a customized construction contract for you.

Heber City Utah Real Estate Lawyer Free Consultation

When you need legal help regarding real estate law in Utah, including purchase and sale agreements (REPC) or a commercial real estate deal, real property litigation, real estate partition actions, evictions for landlords, or other real estate cases, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Helpful Articles

Federal Crimes

Can A Working Wife Get Alimony?

Bankruptcy Lawyer Ogden Utah

Child Support Amounts

Income Tax Fraud

Business Succession Planning

Source: https://www.ascentlawfirm.com/real-estate-lawyer-heber-city-utah/

[asafeatherwould]

Real Estate Lawyer Heber City Utah

Construction contracts are complex. Never attempt to prepare a construction contract without the services of an experienced Heber City Utah real estate lawyer or sign one for that matter. You could get into a big mess. Always use Utah Real Estate Lawyers when it comes to real estate in Utah.

Bonds in general involve a payment by the contractor to a third party who is able to guarantee certain behavior or performance by the contractor. In the event the contractor fails to perform in the way specified, the bonding agent or surety is obligated to pay the party outsourcing for the service a set payment. Bonds are essentially forms of insurance. As with all insurance, there is a potential for abuse. For example, if a contractor has purchased a performance bond, there may be an increased tendency on the part of the property owner to reject the work or products produced under the contract for less than valid reasons. In cases where the value of the bond is greater than the value of the final product, this temptation is particularly strong. This situation is most likely to happen in cases where there is a good likelihood that the product or service being provided may be quickly outdated. In a situation where the product is no longer serviceable by the time it is delivered, the property owner may look for an excuse to find fault with the performance of the contractor and invoke the protection provided by the bond. Specific types of bonds include (1) performance bonds that require the contractor to perform as specified in the contract, (2) bid bonds which insure that the contractor accepts the contract that has been bid upon, and (3) payment bonds that insure payment for services rendered or goods delivered. If you are a construction contractor and you have been asked to sign a contract, consult an experienced Heber City Utah real estate lawyer.

Liquidated damages provisions require the supplier or service provider to pay the property owner (buyer) a specific amount for the failure to provide a level or quality of service that is specified in the contract and that results in some level of damage to the property owner. Liquidated damages can be assessed for each day beyond the delivery date that the supplier fails to deliver on the contracted product or service, for unusable goods or services, and for services that have been judged unacceptable by an agreed upon measure of service quality.

Liquidated damages in many cases can be assessed against or deducted from the payments that the property owner would make to the contractor. Property owners need to be careful in crafting liquidated damages clauses. The courts generally do not allow liquidated damages provisions to be used as a means to penalize contractors. Instead, such provisions are designed to compensate the property owner for actual damages and must therefore meet a standard of being reasonably connected to actual damages experienced. For example, imagine that a liquidated damages clause in a construction contract required that the contractor provide a financial report by the first of each month or, alternatively, pay the property owner $15,000 (or have the property owner’s payment to the contractor reduced by $15,000). One month the contractor fails to provide the report by the first of the month, but does deliver the required report by the fifteenth of the month. In this case, unless the property owner could prove that the delay of the report actually caused approximately $15,000 worth of damage, the courts would probably rule that the amount of the claim was out of proportion to the extent of the contractor’s performance failure and not allow a liquidated damages claim. One potential consequence of the court ruling that a liquidated damage clause is unreasonable is the complete setting aside of the clause. In such a case, the property owner could be left without the ability to be compensated for the contractor’s poor performance. Because reasonableness is the standard for judging the validity of a liquidated damages clause, property owners need to develop methods for assessing damages in proportion to the whole value of the contract or contract payment.

No damages for delay terms essentially excuse the property owner or buyer from responsibilities for delays that the property owner itself causes. If the work to be done requires a high level of contribution from the property owner or a substantial amount of coordination between the property owner and the contractor, the no damages for delay clause represents a major shift in risk from the property owner to the contractor. Contractors, for the most part, are unwilling to assume such a risk without the potential for higher-than-normal levels of compensation. No damages for delay clauses are probably only appropriate when the property owner must be sure that the work will be completed on time even if the property owner’s own personnel are unable to facilitate the work in the expected manner. Property owners who find themselves requesting this type of clause could perhaps make a larger contribution to property owner efficiency by notifying responsible officials that improvements need to be made in operations.

Clauses related to consequential damages control for substantial unforeseen and undesirable results of using a product or service. For example, the property owner may want to purchase some new water valves at a substantially lower cost than normal. The valves themselves may only cost a few hundred dollars, but the failure of a single valve could result in water damages in the millions of dollars. In reading the sales contract the property owner is likely to notice that the valve’s manufacturer has included a clause that requires the purchaser to forego suing for consequential damages or the damages that result from the failure of the part. In technologies that are subject to the potential for large consequential damages, such clauses can explain large differences in price that are otherwise unexplainable. Because the Uniform Commercial Code generally allows for consequential damages, the typical contract language in this area will be a disclaimer of such damages.

Assignment clauses are used to control for the possibility of a contractor winning the contract award and then assigning the work to another service provider.

Force majeure is a legal doctrine that excuses contractors or the property owner from performing their contracted duties because of conditions beyond the control of the respective parties (e.g, bad weather, vehicle breakdown, civil disturbances, etc.). Force majeure clauses are typically included as a boilerplate in most contracts. In some cases, however, property owners need to be careful not to include such clauses. When the point of the contract is to provide for emergency services (e.g, to back up service providers who have failed to deliver because of conditions beyond their control), force majeure clauses should either not be included or should be qualified so as to exclude conditions that the service provider is expected to overcome.

Clauses related to being an independent contractor are often included in contracts as a means of establishing that the contractor cannot claim benefits (e.g., overtime, etc.) to which property owner’s employees are entitled.

Requirements contracts clauses specify that the property owner is only contracting for services as required, that the payments or contract value is only estimated, and that the property owner does not guarantee the amount of work or requirements over the course of the contract. These clauses are commonly used in conjunction with services, such as snow removal, vehicle repair, tree removal, emergency response services, and facilities renovation work, for which a service level cannot be easily estimated.

Risk-related clauses are those that attempt to appropriate the risk levels to be borne by the parties to the contract. Not every contract involves every type of risk. Good contract management calls for a close fit between the type and level of risk involved in the contract and the type and degree of risk-management contract terms that one intends to require. Assessing the potential for risk is not always easy, but experience suggests that a number of conditions are related to risk, including such factors as the length of the preexisting contractual relationship, the reputation of the contractor, the complexity of the work, the reliability of the subcontractors, and so on.

While it may be relatively easy to assess the potential for higher-than- average risk in a contract, it is often more difficult to decide how to manage this risk. This is the case because each of the risk-management clauses outlined has a cost. The cost is rarely explicit or itemized. Instead, it is usually included as part of the overall contract payment cost. Theoretically speaking, the contractor could lower the contract price for every risk-management clause or behavior that the property owner decides not to require. Sometimes the theory is evident in real contract situations. For example, if the property owner decides not to require a performance bond, companies that bid on the contract should be able to lower their price by the cost of the performance bond. While this may be the case in uncomplicated bidding situations (e.g., where all the bidders are not already bonded and where all performance bonds are nearly equal in price), the risk-for-cost tradeoff is more likely to occur in an indirect, rather than direct, manner. For example, the property owner may decide that a performance bond that is regularly needed in a particular type of work will not be required in a particular instance of the work being contracted. Payment Terms or Provisions. These clauses would outline the payment type (e.g., fixed, reimbursement, etc.), the schedule of payments, and the maximum and minimum payment amounts.

Contract Change Provisions

Most contracts will specify a method by which the parties agree to make needed changes to the contract. Sometimes change clauses are as simple as a statement that the parties can change the contract by mutual agreement. At other times, it may be more efficient to allow one party to unilaterally make specific changes or a certain number of changes within a certain time frame. For example, in complex building projects, the project manager may be given authority to change certain material specifications as long as they are of equivalent or better quality.

Contract Suspension Provisions. There may be times when the property owner would want to have a right to suspend the work that has been contracted. For example, if the property owner plans to pay for a project out of expected sales receipts, a situation may occur where the property owner fails to collect the expected level of sales receipts according to schedule. If this schedule is closely tied to the project itself and the property owner has not allocated any other resources to the project, it may be necessary to suspend the contract until the necessary funds are collected. Contract suspension, however, is usually not a cost-free activity unless this is clearly specified. Without provisions for the orderly suspension of work, the cost of suspension to the contractor (e.g., in terms of lost work, funds expended on subcontractors and materials, warehousing costs, etc.) can form the basis for a claim against the property owner. Contract suspension provisions typically include a limit on the amount of time in which the contract can be suspended, as well as specification of some compensation to the contractor for the suspension costs incurred.

Contract Renewal Provisions. Contract renewal provisions are important in keeping the cost of property owner contracting down. Contract renewal provisions allow the property owner the option of renewing the contract at the current price without having to bear the cost of rebidding the contract. It is often the case, however, that because of inflation a contractor will not be interested in the renewal offer at the same price. If this is likely to be the case and the property owner wants to keep the renewal option alive, the contract will need to include a price adjustment or escalator that will allow the contract value to be maintained in the face of price or wage inflation.

Speak to an experienced Heber City Utah real estate lawyer. The lawyer can prepare a customized construction contract for you.

Heber City Utah Real Estate Lawyer Free Consultation

When you need legal help regarding real estate law in Utah, including purchase and sale agreements (REPC) or a commercial real estate deal, real property litigation, real estate partition actions, evictions for landlords, or other real estate cases, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Helpful Articles

Federal Crimes

Can A Working Wife Get Alimony?

Bankruptcy Lawyer Ogden Utah

Child Support Amounts

Income Tax Fraud

Business Succession Planning

Source: https://www.ascentlawfirm.com/real-estate-lawyer-heber-city-utah/

[advertphoto]

Real Estate Lawyer Heber City Utah

Construction contracts are complex. Never attempt to prepare a construction contract without the services of an experienced Heber City Utah real estate lawyer or sign one for that matter. You could get into a big mess. Always use Utah Real Estate Lawyers when it comes to real estate in Utah.

Bonds in general involve a payment by the contractor to a third party who is able to guarantee certain behavior or performance by the contractor. In the event the contractor fails to perform in the way specified, the bonding agent or surety is obligated to pay the party outsourcing for the service a set payment. Bonds are essentially forms of insurance. As with all insurance, there is a potential for abuse. For example, if a contractor has purchased a performance bond, there may be an increased tendency on the part of the property owner to reject the work or products produced under the contract for less than valid reasons. In cases where the value of the bond is greater than the value of the final product, this temptation is particularly strong. This situation is most likely to happen in cases where there is a good likelihood that the product or service being provided may be quickly outdated. In a situation where the product is no longer serviceable by the time it is delivered, the property owner may look for an excuse to find fault with the performance of the contractor and invoke the protection provided by the bond. Specific types of bonds include (1) performance bonds that require the contractor to perform as specified in the contract, (2) bid bonds which insure that the contractor accepts the contract that has been bid upon, and (3) payment bonds that insure payment for services rendered or goods delivered. If you are a construction contractor and you have been asked to sign a contract, consult an experienced Heber City Utah real estate lawyer.

Liquidated damages provisions require the supplier or service provider to pay the property owner (buyer) a specific amount for the failure to provide a level or quality of service that is specified in the contract and that results in some level of damage to the property owner. Liquidated damages can be assessed for each day beyond the delivery date that the supplier fails to deliver on the contracted product or service, for unusable goods or services, and for services that have been judged unacceptable by an agreed upon measure of service quality.

Liquidated damages in many cases can be assessed against or deducted from the payments that the property owner would make to the contractor. Property owners need to be careful in crafting liquidated damages clauses. The courts generally do not allow liquidated damages provisions to be used as a means to penalize contractors. Instead, such provisions are designed to compensate the property owner for actual damages and must therefore meet a standard of being reasonably connected to actual damages experienced. For example, imagine that a liquidated damages clause in a construction contract required that the contractor provide a financial report by the first of each month or, alternatively, pay the property owner $15,000 (or have the property owner’s payment to the contractor reduced by $15,000). One month the contractor fails to provide the report by the first of the month, but does deliver the required report by the fifteenth of the month. In this case, unless the property owner could prove that the delay of the report actually caused approximately $15,000 worth of damage, the courts would probably rule that the amount of the claim was out of proportion to the extent of the contractor’s performance failure and not allow a liquidated damages claim. One potential consequence of the court ruling that a liquidated damage clause is unreasonable is the complete setting aside of the clause. In such a case, the property owner could be left without the ability to be compensated for the contractor’s poor performance. Because reasonableness is the standard for judging the validity of a liquidated damages clause, property owners need to develop methods for assessing damages in proportion to the whole value of the contract or contract payment.

No damages for delay terms essentially excuse the property owner or buyer from responsibilities for delays that the property owner itself causes. If the work to be done requires a high level of contribution from the property owner or a substantial amount of coordination between the property owner and the contractor, the no damages for delay clause represents a major shift in risk from the property owner to the contractor. Contractors, for the most part, are unwilling to assume such a risk without the potential for higher-than-normal levels of compensation. No damages for delay clauses are probably only appropriate when the property owner must be sure that the work will be completed on time even if the property owner’s own personnel are unable to facilitate the work in the expected manner. Property owners who find themselves requesting this type of clause could perhaps make a larger contribution to property owner efficiency by notifying responsible officials that improvements need to be made in operations.

Clauses related to consequential damages control for substantial unforeseen and undesirable results of using a product or service. For example, the property owner may want to purchase some new water valves at a substantially lower cost than normal. The valves themselves may only cost a few hundred dollars, but the failure of a single valve could result in water damages in the millions of dollars. In reading the sales contract the property owner is likely to notice that the valve’s manufacturer has included a clause that requires the purchaser to forego suing for consequential damages or the damages that result from the failure of the part. In technologies that are subject to the potential for large consequential damages, such clauses can explain large differences in price that are otherwise unexplainable. Because the Uniform Commercial Code generally allows for consequential damages, the typical contract language in this area will be a disclaimer of such damages.

Assignment clauses are used to control for the possibility of a contractor winning the contract award and then assigning the work to another service provider.

Force majeure is a legal doctrine that excuses contractors or the property owner from performing their contracted duties because of conditions beyond the control of the respective parties (e.g, bad weather, vehicle breakdown, civil disturbances, etc.). Force majeure clauses are typically included as a boilerplate in most contracts. In some cases, however, property owners need to be careful not to include such clauses. When the point of the contract is to provide for emergency services (e.g, to back up service providers who have failed to deliver because of conditions beyond their control), force majeure clauses should either not be included or should be qualified so as to exclude conditions that the service provider is expected to overcome.

Clauses related to being an independent contractor are often included in contracts as a means of establishing that the contractor cannot claim benefits (e.g., overtime, etc.) to which property owner’s employees are entitled.

Requirements contracts clauses specify that the property owner is only contracting for services as required, that the payments or contract value is only estimated, and that the property owner does not guarantee the amount of work or requirements over the course of the contract. These clauses are commonly used in conjunction with services, such as snow removal, vehicle repair, tree removal, emergency response services, and facilities renovation work, for which a service level cannot be easily estimated.

Risk-related clauses are those that attempt to appropriate the risk levels to be borne by the parties to the contract. Not every contract involves every type of risk. Good contract management calls for a close fit between the type and level of risk involved in the contract and the type and degree of risk-management contract terms that one intends to require. Assessing the potential for risk is not always easy, but experience suggests that a number of conditions are related to risk, including such factors as the length of the preexisting contractual relationship, the reputation of the contractor, the complexity of the work, the reliability of the subcontractors, and so on.

While it may be relatively easy to assess the potential for higher-than- average risk in a contract, it is often more difficult to decide how to manage this risk. This is the case because each of the risk-management clauses outlined has a cost. The cost is rarely explicit or itemized. Instead, it is usually included as part of the overall contract payment cost. Theoretically speaking, the contractor could lower the contract price for every risk-management clause or behavior that the property owner decides not to require. Sometimes the theory is evident in real contract situations. For example, if the property owner decides not to require a performance bond, companies that bid on the contract should be able to lower their price by the cost of the performance bond. While this may be the case in uncomplicated bidding situations (e.g., where all the bidders are not already bonded and where all performance bonds are nearly equal in price), the risk-for-cost tradeoff is more likely to occur in an indirect, rather than direct, manner. For example, the property owner may decide that a performance bond that is regularly needed in a particular type of work will not be required in a particular instance of the work being contracted. Payment Terms or Provisions. These clauses would outline the payment type (e.g., fixed, reimbursement, etc.), the schedule of payments, and the maximum and minimum payment amounts.

Contract Change Provisions

Most contracts will specify a method by which the parties agree to make needed changes to the contract. Sometimes change clauses are as simple as a statement that the parties can change the contract by mutual agreement. At other times, it may be more efficient to allow one party to unilaterally make specific changes or a certain number of changes within a certain time frame. For example, in complex building projects, the project manager may be given authority to change certain material specifications as long as they are of equivalent or better quality.

Contract Suspension Provisions. There may be times when the property owner would want to have a right to suspend the work that has been contracted. For example, if the property owner plans to pay for a project out of expected sales receipts, a situation may occur where the property owner fails to collect the expected level of sales receipts according to schedule. If this schedule is closely tied to the project itself and the property owner has not allocated any other resources to the project, it may be necessary to suspend the contract until the necessary funds are collected. Contract suspension, however, is usually not a cost-free activity unless this is clearly specified. Without provisions for the orderly suspension of work, the cost of suspension to the contractor (e.g., in terms of lost work, funds expended on subcontractors and materials, warehousing costs, etc.) can form the basis for a claim against the property owner. Contract suspension provisions typically include a limit on the amount of time in which the contract can be suspended, as well as specification of some compensation to the contractor for the suspension costs incurred.

Contract Renewal Provisions. Contract renewal provisions are important in keeping the cost of property owner contracting down. Contract renewal provisions allow the property owner the option of renewing the contract at the current price without having to bear the cost of rebidding the contract. It is often the case, however, that because of inflation a contractor will not be interested in the renewal offer at the same price. If this is likely to be the case and the property owner wants to keep the renewal option alive, the contract will need to include a price adjustment or escalator that will allow the contract value to be maintained in the face of price or wage inflation.

Speak to an experienced Heber City Utah real estate lawyer. The lawyer can prepare a customized construction contract for you.

Heber City Utah Real Estate Lawyer Free Consultation

When you need legal help regarding real estate law in Utah, including purchase and sale agreements (REPC) or a commercial real estate deal, real property litigation, real estate partition actions, evictions for landlords, or other real estate cases, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Helpful Articles

Federal Crimes

Can A Working Wife Get Alimony?

Bankruptcy Lawyer Ogden Utah

Child Support Amounts

Income Tax Fraud

Business Succession Planning

Source: https://www.ascentlawfirm.com/real-estate-lawyer-heber-city-utah/

[michaeljames1221]

Real Estate Lawyer Heber City Utah

Construction contracts are complex. Never attempt to prepare a construction contract without the services of an experienced Heber City Utah real estate lawyer or sign one for that matter. You could get into a big mess. Always use Utah Real Estate Lawyers when it comes to real estate in Utah.

Bonds in general involve a payment by the contractor to a third party who is able to guarantee certain behavior or performance by the contractor. In the event the contractor fails to perform in the way specified, the bonding agent or surety is obligated to pay the party outsourcing for the service a set payment. Bonds are essentially forms of insurance. As with all insurance, there is a potential for abuse. For example, if a contractor has purchased a performance bond, there may be an increased tendency on the part of the property owner to reject the work or products produced under the contract for less than valid reasons. In cases where the value of the bond is greater than the value of the final product, this temptation is particularly strong. This situation is most likely to happen in cases where there is a good likelihood that the product or service being provided may be quickly outdated. In a situation where the product is no longer serviceable by the time it is delivered, the property owner may look for an excuse to find fault with the performance of the contractor and invoke the protection provided by the bond. Specific types of bonds include (1) performance bonds that require the contractor to perform as specified in the contract, (2) bid bonds which insure that the contractor accepts the contract that has been bid upon, and (3) payment bonds that insure payment for services rendered or goods delivered. If you are a construction contractor and you have been asked to sign a contract, consult an experienced Heber City Utah real estate lawyer.

Liquidated damages provisions require the supplier or service provider to pay the property owner (buyer) a specific amount for the failure to provide a level or quality of service that is specified in the contract and that results in some level of damage to the property owner. Liquidated damages can be assessed for each day beyond the delivery date that the supplier fails to deliver on the contracted product or service, for unusable goods or services, and for services that have been judged unacceptable by an agreed upon measure of service quality.

Liquidated damages in many cases can be assessed against or deducted from the payments that the property owner would make to the contractor. Property owners need to be careful in crafting liquidated damages clauses. The courts generally do not allow liquidated damages provisions to be used as a means to penalize contractors. Instead, such provisions are designed to compensate the property owner for actual damages and must therefore meet a standard of being reasonably connected to actual damages experienced. For example, imagine that a liquidated damages clause in a construction contract required that the contractor provide a financial report by the first of each month or, alternatively, pay the property owner $15,000 (or have the property owner’s payment to the contractor reduced by $15,000). One month the contractor fails to provide the report by the first of the month, but does deliver the required report by the fifteenth of the month. In this case, unless the property owner could prove that the delay of the report actually caused approximately $15,000 worth of damage, the courts would probably rule that the amount of the claim was out of proportion to the extent of the contractor’s performance failure and not allow a liquidated damages claim. One potential consequence of the court ruling that a liquidated damage clause is unreasonable is the complete setting aside of the clause. In such a case, the property owner could be left without the ability to be compensated for the contractor’s poor performance. Because reasonableness is the standard for judging the validity of a liquidated damages clause, property owners need to develop methods for assessing damages in proportion to the whole value of the contract or contract payment.

No damages for delay terms essentially excuse the property owner or buyer from responsibilities for delays that the property owner itself causes. If the work to be done requires a high level of contribution from the property owner or a substantial amount of coordination between the property owner and the contractor, the no damages for delay clause represents a major shift in risk from the property owner to the contractor. Contractors, for the most part, are unwilling to assume such a risk without the potential for higher-than-normal levels of compensation. No damages for delay clauses are probably only appropriate when the property owner must be sure that the work will be completed on time even if the property owner’s own personnel are unable to facilitate the work in the expected manner. Property owners who find themselves requesting this type of clause could perhaps make a larger contribution to property owner efficiency by notifying responsible officials that improvements need to be made in operations.

Clauses related to consequential damages control for substantial unforeseen and undesirable results of using a product or service. For example, the property owner may want to purchase some new water valves at a substantially lower cost than normal. The valves themselves may only cost a few hundred dollars, but the failure of a single valve could result in water damages in the millions of dollars. In reading the sales contract the property owner is likely to notice that the valve’s manufacturer has included a clause that requires the purchaser to forego suing for consequential damages or the damages that result from the failure of the part. In technologies that are subject to the potential for large consequential damages, such clauses can explain large differences in price that are otherwise unexplainable. Because the Uniform Commercial Code generally allows for consequential damages, the typical contract language in this area will be a disclaimer of such damages.

Assignment clauses are used to control for the possibility of a contractor winning the contract award and then assigning the work to another service provider.

Force majeure is a legal doctrine that excuses contractors or the property owner from performing their contracted duties because of conditions beyond the control of the respective parties (e.g, bad weather, vehicle breakdown, civil disturbances, etc.). Force majeure clauses are typically included as a boilerplate in most contracts. In some cases, however, property owners need to be careful not to include such clauses. When the point of the contract is to provide for emergency services (e.g, to back up service providers who have failed to deliver because of conditions beyond their control), force majeure clauses should either not be included or should be qualified so as to exclude conditions that the service provider is expected to overcome.

Clauses related to being an independent contractor are often included in contracts as a means of establishing that the contractor cannot claim benefits (e.g., overtime, etc.) to which property owner’s employees are entitled.

Requirements contracts clauses specify that the property owner is only contracting for services as required, that the payments or contract value is only estimated, and that the property owner does not guarantee the amount of work or requirements over the course of the contract. These clauses are commonly used in conjunction with services, such as snow removal, vehicle repair, tree removal, emergency response services, and facilities renovation work, for which a service level cannot be easily estimated.

Risk-related clauses are those that attempt to appropriate the risk levels to be borne by the parties to the contract. Not every contract involves every type of risk. Good contract management calls for a close fit between the type and level of risk involved in the contract and the type and degree of risk-management contract terms that one intends to require. Assessing the potential for risk is not always easy, but experience suggests that a number of conditions are related to risk, including such factors as the length of the preexisting contractual relationship, the reputation of the contractor, the complexity of the work, the reliability of the subcontractors, and so on.

While it may be relatively easy to assess the potential for higher-than- average risk in a contract, it is often more difficult to decide how to manage this risk. This is the case because each of the risk-management clauses outlined has a cost. The cost is rarely explicit or itemized. Instead, it is usually included as part of the overall contract payment cost. Theoretically speaking, the contractor could lower the contract price for every risk-management clause or behavior that the property owner decides not to require. Sometimes the theory is evident in real contract situations. For example, if the property owner decides not to require a performance bond, companies that bid on the contract should be able to lower their price by the cost of the performance bond. While this may be the case in uncomplicated bidding situations (e.g., where all the bidders are not already bonded and where all performance bonds are nearly equal in price), the risk-for-cost tradeoff is more likely to occur in an indirect, rather than direct, manner. For example, the property owner may decide that a performance bond that is regularly needed in a particular type of work will not be required in a particular instance of the work being contracted. Payment Terms or Provisions. These clauses would outline the payment type (e.g., fixed, reimbursement, etc.), the schedule of payments, and the maximum and minimum payment amounts.

Contract Change Provisions

Most contracts will specify a method by which the parties agree to make needed changes to the contract. Sometimes change clauses are as simple as a statement that the parties can change the contract by mutual agreement. At other times, it may be more efficient to allow one party to unilaterally make specific changes or a certain number of changes within a certain time frame. For example, in complex building projects, the project manager may be given authority to change certain material specifications as long as they are of equivalent or better quality.

Contract Suspension Provisions. There may be times when the property owner would want to have a right to suspend the work that has been contracted. For example, if the property owner plans to pay for a project out of expected sales receipts, a situation may occur where the property owner fails to collect the expected level of sales receipts according to schedule. If this schedule is closely tied to the project itself and the property owner has not allocated any other resources to the project, it may be necessary to suspend the contract until the necessary funds are collected. Contract suspension, however, is usually not a cost-free activity unless this is clearly specified. Without provisions for the orderly suspension of work, the cost of suspension to the contractor (e.g., in terms of lost work, funds expended on subcontractors and materials, warehousing costs, etc.) can form the basis for a claim against the property owner. Contract suspension provisions typically include a limit on the amount of time in which the contract can be suspended, as well as specification of some compensation to the contractor for the suspension costs incurred.

Contract Renewal Provisions. Contract renewal provisions are important in keeping the cost of property owner contracting down. Contract renewal provisions allow the property owner the option of renewing the contract at the current price without having to bear the cost of rebidding the contract. It is often the case, however, that because of inflation a contractor will not be interested in the renewal offer at the same price. If this is likely to be the case and the property owner wants to keep the renewal option alive, the contract will need to include a price adjustment or escalator that will allow the contract value to be maintained in the face of price or wage inflation.

Speak to an experienced Heber City Utah real estate lawyer. The lawyer can prepare a customized construction contract for you.

Heber City Utah Real Estate Lawyer Free Consultation

When you need legal help regarding real estate law in Utah, including purchase and sale agreements (REPC) or a commercial real estate deal, real property litigation, real estate partition actions, evictions for landlords, or other real estate cases, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Helpful Articles

Federal Crimes

Can A Working Wife Get Alimony?

Bankruptcy Lawyer Ogden Utah

Child Support Amounts

Income Tax Fraud

Business Succession Planning

from Michael Anderson https://www.ascentlawfirm.com/real-estate-lawyer-heber-city-utah/

from Criminal Defense Lawyer West Jordan Utah https://criminaldefenselawyerwestjordanutah.wordpress.com/2019/11/27/real-estate-lawyer-heber-city-utah/