Does general contractor premium goes high how much even if he gives job to subcontractor if gc pays money to subcontractor from his account still it will be counted as sales?
Possibly and probably contact your agent and ask.
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Simple summary for complex issue . \nIn theory when a PRIME contractor hires a SUBCONTRACTOR, and the SUBCONTRACTOR causes a loss, damage, injury, etc., then the SUBCONTRA…CTOR's insurance should pay the expenses related to that loss. If the PRIME contractor causes the loss, then the PRIME contractor's insurance will pay for the loss.\n. \nIf the SUBCONTRACTOR does not have insurance (lapsed, fake certificates, etc.), then the PRIME contractor's insurance will have to pay for the loss even when caused by the SUBCONTRACTOR.\n. \nIn the real world, all parties get sued after a damage or injury loss. Later they sort out which party or parties were at fault. Most Prime-Contracts now contain language that makes the PRIME CONTRACTOR indemnify and holdharmless the owner, meaning pay for their costs also. Likewise, most SUB-CONTRACTS now contain a language that makes the SUBCONTRACTOR indemnify and holdharmless the other parties.\n. \nThese are important and tricky legal concepts and should not be taken causually.\n. \nProffessional advice is always recommended.\n. \nSome insurance companies will try to deny coverage if the PRIME contractor did not have an "indemnity/holdharmless" agreement in the sub-contract.
Answer . I used to work in the credit dept at Sherwin Williams and always dealt with subcontractors who were late on payments because of contractors. Each contractor is dif…ferent...some will only pay after the job is final and others will pay as phases of the job are finished; some pay within 30 days (which is rare) and some take as long as 90-120 days. My suggestion to you is ALWAYS find this information out BEFORE you start a job for any contractor and ALWAYS do research on the contractor because some of them can be very shady...make sure the contractor has been around for a while and has an established reputation. I had many subcontractors that were sent to outside collection agencies because the contractors never paid them or they went out of business during a job...either way the subcontractors were the ones borrowing the money therefore, were responsible for paying us. If you are borrowing money for a job with a contractor see if you can pay lenders back by joint check...this way, the lenders are usually more lenient with the subcontractors.
How do you get paid if you are a subcontractor and the general contractor didn't pay you for working on a house can you put a lien on the owners house and how long after finishing can you do that?
If the GC.is.a.Negro. you will.never.get money back. EVER THEY get away with everything. I.say regardless u will never get money back. Go beat the Shit.out of.him and order wh…at your.owed under an account that is his.to.a.random.location .its been done.with great success. It's the only way u.will.get your.money back unless.u are black.and he is.white
Yes under contract law a subcontractor can sue for breach of contract. However subcontractors should become familiar with the state's construction or mechanics lien laws which… grants them the right to lien the property to secure payment. Many states have preliminary or warning notices that must be served on the property owner(s), lender(s) and primary contractor within a specified period in order to secure lien rights. Do NOT lien a property without valid lien rights since you risk a multitude of retaliatory lawsuits.
Yes--but there are specific pre-construction notices that must be given, so see a real estate attorney in your area for details on your state's laws.
The answer is in the title. A contractor is typically a builder or trades person who signs an original document for an original project with a client to perform a constructive… task. The "sub" contractor than signs a contract with the contractor(now the "general" contractor with the addition of sub-contract(s)). If the trades person signs their contract with the client, than the client is acting as the "general" and taking on all associated risks(depending on contract stipulations).
A subcontractor can turn to Construction or mechanics lien law in order to secure payment. By being lien law compliant, meeting specific requirements such as preliminary notic…es and within time restrictions, a subcontractor can withhold payments to the primary contractor or lien the property. Lien laws are state specific and you should check your state's statutes for the requirements and restrictions. Property owners can protect themselves from these liens by requesting waivers or releases from all subcontracts and the primary contractor for each payment as well as a Contractor's Affidavit at the end of the job in exchange for the final payment.
Anyone who does work for a general contractor and is not a direct employee of that contractor is a sub-contractor. Regardless of who sets the price. The subcontractors work wi…thin the contract set between the general contractor and homeowner. Hence sub-contractor.
Can I file criminal charges against my contractor for taking my money and not paying his subcontractor who then filed a lien on my house?
yes they can - a prime contractor holds the actual contract and then in essence hires a subcontractor to do some of the work. an independent contractor is not an actual employ…ee of whoever is paying him for his work. so there is no reason one person can't be both and often they are
A contractor and his subcontractor are working the same job and the sub damages the contractors equipment whos insurance pays?
The contractor should make a claim upon the sub-contractors insurance and/or bond. If the sub-contractor defrauded the contractor on having insurance and/or bonding in place t…hen he should report the contractor to the State licensing board, file claim on their insurance, and civil lawsuit (if the insurance company does not directly file or pay).
Firstly you have all the rights granted by your contract with the contractor. Secondly you have the state's lien statutes which grant you lien rights providing you meet specif…ied conditions and time restrictions. Construction or mechanics lien laws vary in each state so you need to become familiar with the laws of your state or contract a lien law administration provider for more information. If you are working on municipal property or if there is a payment bond you have other alternatives available to you including holding payment to the primary contractor or suing the bond for payment.
No. They will not affet the GC because they are two different entities. This method of rating is also similar to the OSHA Recordables and 300 Log. A GC will not report acciden…ts on his/her report for an accident that occured to a subcontractor. This is of course limited if the incident involves multiple parties, then it could have an affect. The easiest way to tell is if the GC has to file a claim or not.
Would a laborer who works for a contractor receives a weekly check but has to pay his own income tax out of this money be considered to be a subcontractor?
A self employed taxpayer. NO employer to withhold the social security and medicare taxes out of your gross pay before your net take home paycheck is issued to you. As a self… employed taxpayer you are required to file your 1040 income tax return reporting all of the self employment gross income even if you do not receive a 1099-MISC from the payer of the money or services or whatever items you receive in exchange for your labor. If you are a self employed taxpayer then you are responsible for all of your own FICA self employment taxes of 15.3% plus any income taxes on your net profit from your business operation at your marginal tax rate. You will need to report that income, and any related expenses, on Form 1040, Schedule C, Profit or Loss from the Business operation, or you may qualify to use Form 1040, Schedule C-EZ, TO determine your Net Profit from the Business operation. You will also need to use the Form 1040, Schedule SE, Self Employment Tax form to compute and report your social security and Medicare tax on the net profit from the business operation. For instructions and forms go to the IRS.gov web site and use the search box for publication 334 a very good place to start with examples Publication 463 Travel, Entertainment, Gift, and Car Expenses Use the search box at the IRS.gov web site for Small Business and Self-Employed Tax Center Filing Season Central is your one stop assistance center for filing your business returns. This includes Highlights of Tax Law Changes, Tax Tips, and more.
I think you mean can a general contracto force their subcontractor to raise their car insurance coverage limits. Some people choose to buy insurance with very low limits which… do not provide a lot of protection. If you work for someone like a general contractor they can require you have a certain level of insurance. The reason they might do this is because they may have insurance that starts at a certain dollar limit. For example You buy insurance which covers damage cause if you car hits someone up to $25,000. The contractor may have insurance that starts at $50,000. This means that you would need insurance that covers up to $50,000 and the the contractors insurance would start paying after $50,000. Premium is the money you pay to purchase a policy. If you increase your coverage limits from say $25,000 to $50,000 it will of course increase your premium cost.
In Contract Law
So they can work as a general contractor and not have to work for someone else.