This state specific form addresses issues for subcontract work including: identifying the parties, identifying the jobsite, describing the work, scheduling the work, payment amount, payment schedule, change orders, contractors delay in commencing work, late payments, dispute resolution, excusable delay, concealed conditions, insurance, and contract interpretation.
Sunnyvale California Subcontractor's Agreement
State:
California
City:
Sunnyvale
Control #:
CA-00481-CPK
Format:
Word;
Rich Text
Instant download
Description
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FAQ
The responsibility of a subcontractor is to complete all tasks assigned by the general contractor correctly and within the specified timeline.
Subcontractors undertake a contract from the contractor. Subcontractors undertake work that a contractor cannot do but for which the contractor is responsible.
What Is Markup? The average pre-tax net profit is between 1.4 and 2.4 percent for general contractors, according to the Construction Financial Management Association. The average pre-tax net profit for subcontractors is between 2.2 to 3.5 percent.
Contractors are responsible for supplying the necessary equipment, material, labor, and services to complete your project. They hire specialized subcontractors to perform either a portion or all of the work. Contractors use Subcontractor Agreements to protect themselves and the subcontractors they hire.
A basic rule of thumb that most people suggest would be to determine your hourly rate as a permanent employee, and then add 50-75%. If you were earning $65,000/year, that equates to $31.25/hr. By adding 50%, your rate would be $47/hr, and at 75%, your rate would be $55/hr.
Managing Subcontractors in Construction Understand And Protect Your Surety Bonds. Yes, you know your firm has to be bonded in order to get projects.Treat Your Subcontractor As You Would Like To Be Treated.Get It In Writing First.Proper Documentation.
6 Tips for Building Better Subcontractor Relationships Building solid relationships with your subcontractors is critical to project success.1) Pre-Qualify.3) Keep Subs in the Loop and Communicate Often.5) Continually Track Progress.
In general, a rate should be based on a few specific details. It should include you or your crew's hourly rate, the cost of materials, any overhead expenses and some amount of profit. But when many subcontractors start out, they only cover the hourly rates and the cost of materials.
The two most common methods for protecting against subcontractor default are subcontractor bonds and subcontractor default insurance. Both are used to manage the risk of subcontractor default but there are differences in how they work, who bears the risk and what parties are protected.
The prime contractor is responsible for managing its subcontracts, per FAR 42.202(e)(2). The prime contractor is primarily responsible for subcontract award, technical and financial performance, monitoring, and payment to the subcontractor for the work accomplished under subcontract terms.