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Video instructions and help with filling out and completing What Form 1094 B Estimated

Instructions and Help about What Form 1094 B Estimated

Music in this lesson, you'll learn the importance of having the right build contrast with the right language of terminology. Because profitability starts at the kitchen table, when you formally contract that job, you have to start with the right foundation. This can save your sales rep and your customer tens of thousands of dollars in unexpected liabilities, as well as result in increased profits and faster collections when your job is complete. The SPG system has six different build contracts – two-part building contracts that we recommend contractors use when formally contracting a job. Build contract number one is what we call the PPD sheet. This is our preliminary pricing detail sheet. It allows the owner, the sales rep, and the manager to figure out where the RCD claim starts, what upgrades the customer agreed to do for additional work, what work trades are not covered on insurance paperwork, and how the new contract amount is derived. It is a very important sheet to determine the contract price, and we call it the PPD sheet. It also includes a payment schedule for progress payments and a section for supplements that may involve a change order and a new contract price. Build contract number two is the prime contract with the customer. Many contractors make the mistake of using their contingency agreement or service agreement as their build contract, but this is a big mistake. Keep them separate. After the insurance adjustment, you'll have your first round of approved numbers from the carrier. Take the time to formally contract the job with a professional build contract. This means you should now have a preliminary contract price to proceed with the work and legal terms that should be included in your prime build contract. SPG includes this on all the build contracts that...