Electrical Contractor Essentials: Finance, Legal, Safety and Insurance
(Room 207 C)
08 Oct 21
8:00 AM
-
4:00 PM
Tracks:
Business Management
Designed specifically for NECA’s small and medium-sized contractors, this program will bring in experts to discuss the essential elements of finance, insurance and bonding, legal issues, and safety that all contractors need to know. The financial section will focus on the components of financial statements, cash flow, profit fade, work in process schedules, cycle time, and the concept of margin versus markup. Legal matters such as recommended clauses and provisions for product and service contracts, wage and hour changes, and best practices for internal investigations will be discussed. The safety section will outline elements of a safety program, supervisor responsibility related to safety and why a good safety record is important from reputation to profitability. Finally, we’ll conclude with a discussion on common coverage concerns, factors that affect business insurance premimums, and the process for qualifiying and utilizing construction bonds.