Does Your Client's Contract Include That You Will Perform in a Non-Negligent Manner?
Sounds harmless enough. We are all obligated to perform non-negligently under tort law. But by agreeing to perform that way by contract you could exacerbate your liability exposure. Here is a difference between Tort and Contract Law. Negligence could become breach of contract if included in the contract as mentioned above and in many places the statute for limitation is longer for breach of contract than it is for negligence. Delete the language if you can and explain that if surveyors could work that way there would be very little need for the insurance industry.
High Definition Surveying Seminar in Maui
COPS will be co-sponsoring a seminar on High Definition Surveying at the ACEC fall conference being held in Maui on September 26-29, 2007. The seminar takes place on September 28 and will feature a representative from Leica Geosystems who will outline how laser scanning technology can be used for the vertical and industrial construction market and thus create new business opportunities for firms. For more information about the conference and/or to register Click here.
Do you have an Appetite for Risk?
You probably wouldn't be in business if you didn't. That is just one of the factors when considering the amount of insurance your firm should carry. Other factors include your ability to manage risk, the local legal climate, the type and number of projects you generally undertake, or the reputation of your clients. Insurance is a risk transferring mechanism and is a major investment. All firms want to minimize insurance costs but at the same time want to protect personal and business assets from catastrophic claims. It is best to spend quality time with your insurance broker to evaluate your layers of coverage and limits.
A Characteristic of High Performing, Highly Profitable Companies
Studies have shown that firms that commit to training in the process of project management do better then those who have traditionally concentrated on events or milestones. For example, as exchanges of information occur between internal project teams; the team checks for completeness of the information at the time of the exchange. Money spent there pays off rather than error-checking or reworking downstream. Another characteristic is performing functions in parallel rather than sequentially even if you must start with incomplete information. Effectively implemented this approach can result in a double win for your firm. Clients see the value in efficiency and are willing to pay for it and the firm gains internal efficiencies and increased fees.
"Time is of the Essence"
This is seen in many contracts. It is legal terminology that means in effect that the parties really mean what has been stated about time limits for performance of their obligations. The fact that this term is included raises the level of importance of timely completion. It is usually meant to relate to the contractor's timely completion of the work and the owner's prompt payment to them.