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Subcontracting terms and conditions
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| finalsight |
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Posts: 12
Joined: 04 Jul 2008
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Posted: Mon Oct 06, 2008 10:47 am
Post subject: Subcontracting terms and conditions
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my cctv company (quite new) has just been asked by a much larger company to do some subcontracting work for the. they have asked me for my terms and conditions. i dont have any for subcontracting and no clue as to how to find some and how detailed they should be as we have never done subcontracting work before. any advice would be much appreciated. thanks.
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| Lolo Wolf |
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Posts: 426
Joined: 18 Jan 2007
Location: Northwest Montana
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Posted: Mon Oct 06, 2008 6:19 pm
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My experience with sub work ( heavy/highway construction) almost always the work is put out to bid, since you were approached direct I would ask for THEIR terms and conditions before you even consider taking on any obligation. Things to consider: 1) subcontract pricing - factor in all overhead costs and additional fees that may be involved with getting the needed certifications or acknowledgements if required 2) Sub-contracting arrangements: Defects liability and prime contractor responsibilty for detail-spec and material layouts 3) Tax issues- The IRS uses 20 common-law rules to determine the classification of employees and subcontractors... sub-contract is subject to the same principles which apply to the formation and operation of any contract. Protect your self and carefully decipher- read all paper before you enter into any obligation this is just a brief and general start....sub work can entail some very complicated sitiuations in so far as liability and charges. Good luck
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| finalsight |
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Posts: 12
Joined: 04 Jul 2008
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Posted: Fri Oct 10, 2008 9:47 am
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Many thanks for your reply. i have gained some usefull information from that and will go into it with my eyes wide open and read the documentation very carefully. thanks again
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| Lolo Wolf |
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Posts: 426
Joined: 18 Jan 2007
Location: Northwest Montana
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Posted: Sat Oct 11, 2008 6:03 pm
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Hello Finalsight, sorry for the late reply (just got "outta the woods again"so to speak hospital-ongoing medical problems) but yes go in alert but by no means dont be discouraged by my remarks...you can do very well with subwork and the profit margins can be good as long as you set up in your favor and always protect yourself. Good luck and most of all good health. Regards
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