ORSC Blog

Why Your Construction Company Needs a Buy-Sell Agreement Has the topic of buy-sell agreements come up in discussions with your attorney, surety agent or accountant? Chances are someone who cares about the future of your ...
Surety Bond or Letter of Credit: What's the Difference? Surety bonds and letters of credit (LOCs) both provide risk management for construction or development projects. To know which is appropriate to use, it helps to ...
Contractors: Is Your Internal Record Keeping Helping You or Hurting You? Let’s face it, the reason you went into construction is because you like being at the job site — not cooped up in an office. So you probably don’t spend as much ...
Is it M for Thousand and MM for Million, or K for thousand and M for Million?  I’m asking for a friend. Western Civilization has had two powerful influences – the traditions of the Greeks and the Romans, and there is often conflict. The Greeks would refer to the god ...
Why Work in Progress Schedules Are So Important “Can you send me a WIP that goes with this statement?” “Can you send me the fiscal year-end statement with WIP?” I’m sure you’ve heard those questions or some ...
How to Take Your Business to the Next Level and Increase Your Bonding Capacity Are you ready to grow your business? Maybe you’d like to bid on larger projects. Or the owner of your current job likes your work and wants to hire you for ...
Financial Statements: What to Expect in the Underwriting Process During the underwriting process, a surety company may request financial statements from both new and established clients. Financial reports provide us with a ...
Worker’s Compensation – Subs, 1099s, Employees – From a Risk and Bonding Perspective – It Does Matter! Workers’ compensation can be a sticky wicket for construction firms. It’s an area where new contractors and veterans alike can find themselves in legal and ...
Lessons from the Field: Why Business Continuity Planning Is Essential Like it or not, ownership and management changes are a certainty in construction. According to FMI, every construction company that isn’t publicly traded will go ...
Expect the Unexpected: The Importance of a Solid Continuity Plan Growing up in a family that owned an electrical contracting business, I was always surrounded by a strong work ethic and dedication to the business. While my role ...

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