The document discusses how a healthy US economy has led to increased opportunities for trade contractors, allowing them to be more selective in the projects they take on. As a result, fewer trade contractors are willing to bid on projects subject to Davis-Bacon wage legislation due to the complex reporting requirements. This could increase costs for developers and public agencies undertaking these projects. The document provides solutions for controlling risks and costs, such as choosing experienced general contractors familiar with Davis-Bacon reporting.
Please join Jennifer Schaus & Associates every Wednesday in 2019 for a complimentary Wednesday series. For full audio of this presentation please visit (https://youtu.be/TYubJLp2ERs). For more information about our federal contracting services please visit http://www.Jenniferschaus.com or contact us at 202-365-0598. Win more federal government contracts!
Complex Contracting in the Public SectorJon Hansen
This paper was was written by Trevor Brown (John Glenn School of Public Affairs, The Ohio State University), Matthew Potoski (Department of Political Science, Iowa State University), and David Van Slyke (Maxwell School of Citizenship and Public Affairs, Syracuse University) for the Kettering Symposium on Public Accountability, May 22 - 24, 2008.
It is an interestingly insightful and useful paper that has be used as a reference point for the February 4th, 2010 Contacting Intelligence Post: Complex contracting in the public sector: Managing relations and negotiating contracts in the absence of market discipline (http://wp.me/pYOvn-7u)
Yes Virginia! A Profile In Excellence White PaperJon Hansen
Who Can Benefit from this Paper?
This thought provoking white paper is an essential resource tool for public sector organizations that are already in the midst of an established program, or ones who are contemplating a change. Although they do not operate within the same framework of a public or government entity, private sector companies can also gain important insight as the paper’s principles are universal in their applicability.
Utilizing an advanced research methodology, the primary objective of this paper is to provide policy-makers (and those affected by government policy) with a multi-dimensional “objective lens” through which they will be able to view the veracity of both existing as well as contemplated initiatives. The resulting insights will empower program champions to take the necessary steps to deliver tangible and sustainable results.
Government Contracting - OTA's - Who Needs The FAR? - Win Federal ContractsJSchaus & Associates
Please join Jennifer Schaus & Associates every Wednesday in 2020 for a complimentary Wednesday series. See the full recording on our YouTube Channel (https://www.youtube.com/watch?v=UNBAWh-AF7k). For more information about our federal contracting services please visit http://www.Jenniferschaus.com or contact us at 202-365-0598. Win more federal government contracts!
Please join Jennifer Schaus & Associates every Wednesday in 2019 for a complimentary Wednesday series. For full audio of this presentation please visit (https://youtu.be/TYubJLp2ERs). For more information about our federal contracting services please visit http://www.Jenniferschaus.com or contact us at 202-365-0598. Win more federal government contracts!
Complex Contracting in the Public SectorJon Hansen
This paper was was written by Trevor Brown (John Glenn School of Public Affairs, The Ohio State University), Matthew Potoski (Department of Political Science, Iowa State University), and David Van Slyke (Maxwell School of Citizenship and Public Affairs, Syracuse University) for the Kettering Symposium on Public Accountability, May 22 - 24, 2008.
It is an interestingly insightful and useful paper that has be used as a reference point for the February 4th, 2010 Contacting Intelligence Post: Complex contracting in the public sector: Managing relations and negotiating contracts in the absence of market discipline (http://wp.me/pYOvn-7u)
Yes Virginia! A Profile In Excellence White PaperJon Hansen
Who Can Benefit from this Paper?
This thought provoking white paper is an essential resource tool for public sector organizations that are already in the midst of an established program, or ones who are contemplating a change. Although they do not operate within the same framework of a public or government entity, private sector companies can also gain important insight as the paper’s principles are universal in their applicability.
Utilizing an advanced research methodology, the primary objective of this paper is to provide policy-makers (and those affected by government policy) with a multi-dimensional “objective lens” through which they will be able to view the veracity of both existing as well as contemplated initiatives. The resulting insights will empower program champions to take the necessary steps to deliver tangible and sustainable results.
Government Contracting - OTA's - Who Needs The FAR? - Win Federal ContractsJSchaus & Associates
Please join Jennifer Schaus & Associates every Wednesday in 2020 for a complimentary Wednesday series. See the full recording on our YouTube Channel (https://www.youtube.com/watch?v=UNBAWh-AF7k). For more information about our federal contracting services please visit http://www.Jenniferschaus.com or contact us at 202-365-0598. Win more federal government contracts!
Persentasi ini dibuat oleh anak-anakku yang sedang belajar membuat powerpoint dari percobaan yang telah dibuat, ini merupakan bagian dari proses belajar anak-anakku jasmine syifa hawa hamada (11th) dan azka mustafa hafiz (8th) yang homeschooling. hal pertama yang mereka katakan setelah selesai"ternyata seruu ya ma .."
BridesmaidWire offers huge selection of Red bridesmaid dresses. You can select red bridesmaid wedding dresses and whatever you want.
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The Construction Industry, which is the major source of employment opportunities to people of all walks of life, next only to agriculture, is now fully poised for full swing growth, after the jerk of demonetisation. The Builders too, who were initially showing resentment to RERA, are now fully satisfied with it, as it is only conditioning them for transparency in their activities.
Infrastructure and Design Build ContractingWagner College
This monograph was written for Wagner College's Hugh L. Carey Institute for Government Reform in August 2020 by Peter J. Kiernan, of counsel at Schiff Hardin in New York. Kiernan previously served as counsel to New York Gov. David Paterson, counsel to the deputy mayor for finance of the City of New York, and chief counsel to the New York State Senate Minority. As a Littauer fellow at the Kennedy School of Government at Harvard University, he wrote an analysis of the New York City fiscal crisis, which was published by Harvard. He is a graduate of John Carroll University, the Kennedy School of Government at Harvard, and Cornell Law School.
Persentasi ini dibuat oleh anak-anakku yang sedang belajar membuat powerpoint dari percobaan yang telah dibuat, ini merupakan bagian dari proses belajar anak-anakku jasmine syifa hawa hamada (11th) dan azka mustafa hafiz (8th) yang homeschooling. hal pertama yang mereka katakan setelah selesai"ternyata seruu ya ma .."
BridesmaidWire offers huge selection of Red bridesmaid dresses. You can select red bridesmaid wedding dresses and whatever you want.
http://bit.ly/1U3lh76
The Construction Industry, which is the major source of employment opportunities to people of all walks of life, next only to agriculture, is now fully poised for full swing growth, after the jerk of demonetisation. The Builders too, who were initially showing resentment to RERA, are now fully satisfied with it, as it is only conditioning them for transparency in their activities.
Infrastructure and Design Build ContractingWagner College
This monograph was written for Wagner College's Hugh L. Carey Institute for Government Reform in August 2020 by Peter J. Kiernan, of counsel at Schiff Hardin in New York. Kiernan previously served as counsel to New York Gov. David Paterson, counsel to the deputy mayor for finance of the City of New York, and chief counsel to the New York State Senate Minority. As a Littauer fellow at the Kennedy School of Government at Harvard University, he wrote an analysis of the New York City fiscal crisis, which was published by Harvard. He is a graduate of John Carroll University, the Kennedy School of Government at Harvard, and Cornell Law School.
What Title Companies Can Do Now to Prepare for the Future of Mortgage LendingKhurram Mukhtar
Uncertainties in the home industry are inevitable. Managing various parties like sellers, agents, and appraisal companies can be complicated. We understand the challenges that home finance professionals face in mortgage loan origination. However, these complexities raise the question of how title companies can prepare for the future of mortgage lending. In search of a better solution, AtClose sheds light on the minimum requirements with the lenders and title agents. Attempting to meet those underlying needs while catering to industry challenges, AtClose designed a complete title industry solution. Read the whitepaper to learn how AtClose's leading order processing technology removed the friction that has been denying the title industry efficiency for so long.
Find out more about AtClose: https://www.atclose.com/
Success Factors in Offset Deals: A Case Study Based ExaminationWaqas Tariq
The requests for offset obligations occurs primarily in the area of arms imports and covers the full range of industrial and commercial benefits that companies provide to foreign governments as inducements or conditions for the purchase of military goods and services. Increasingly, all major contracts ask for offset obligations. They are now key differentiators in major contracts and it is a fast growing market. For the suppliers, offsets are a key differentiator in earning new business and therefore should be accepted that much accurateness is put on the successful execution of the offset projects. Nevertheless, it comes to problems during the project phase and sometimes we’ve the situation that a offset project failed. The aim of this paper is to exam which success- giving factors are exists in the offset related interaction between buyer, seller and participating industry. The data for this investigation were obtained from secondary sources which were mainly accessible via internet. After data collection, an analysis was performed which was based on the context of this paper and also in connection with the chosen case study: Saudi Arabia. As a result of this analysis can be derived several success factors, which could be also seen as the foundation for an optimized execution of offset obligations. The paper concludes with a reflection of the investigation approach and as well with a classification of the subject offset. Furthermore the results of the analyzes are summarized and an outlook for further researches is given.
Blockchain Smart Contracts - getting from hype to reality Capgemini
The potential of smart contracts – programmable contracts that automatically execute when pre-defined conditions are met – is the subject of much debate and discussion in the financial services industry. Smart contracts, enabled by blockchain or distributed ledgers, have been held up as a cure for many of the problems associated with traditional financial contracts, which are simply not geared up for the digital age. Reliance on physical documents leads to delays, inefficiencies and increases exposure to errors and fraud. Financial intermediaries, while providing interoperability for the
finance system and reducing risk, create overhead costs for and increase compliance requirements.
In this report, we aim to cut through the speculation and hype around the potential of smart contracts. We have conducted detailed discussions with financial services industry professionals, prominent smart contract startups and academics (see Research Methodology at the end of this paper). Our study confirms that smart contract adoption will lead to reduced risks, lower administration and service costs, and more efficient business processes across all major segments of the financial services industry. These benefits will accrue from technology, process redesign as well as from fundamental changes in operating models, as they require a group of firms to share a common view of the contract between trading parties. Consumers will benefit from more competitive products, such as mortgage loans and insurance policies, along with simpler processes that are free of many of the hassles of today’s customer experience.
Smart Contracts in Financial Services: Getting from Hype to Reality. Reporteraser Juan José Calderón
Smart Contracts in Financial Services: Getting from Hype to Reality.
Executive Summary
The potential of smart contracts – programmable contracts that automatically execute when pre-defi ned conditions are met – is the subject of much debate and discussion in the fi nancial services industry.
Smart contracts, enabled by blockchain or distributed ledgers, have been held up as a cure for many of the problems associated with traditional fi nancial contracts, which are simply not geared up for the digital age. Reliance on physical documents leads to delays, ineffi ciencies and increases exposure to errors and fraud. Financial intermediaries, while providing interoperability for the fi nance system and reducing risk, create overhead costs for and increase compliance requirements.
In this report, we aim to cut through the speculation and hype around the potential of smart contracts. We have conducted detailed discussions with fi nancial services industry professionals, prominent smart contract startups, and academics (see Research Methodology at the end of this paper). Our study confi rms that smart contract adoption will lead to reduced risks, lower administration and service costs, and more effi cient business processes across all major segments of the fi nancial services industry. These benefi ts will accrue from technology, process redesign as well as from fundamental changes in operating models, as they require a group of fi rms to share a common view of the contract between trading parties. Consumers will benefi t from more competitive products, such as mortgage loans and insurance policies, along with simpler processes that are free of many of the hassles of today’s customer experience.
Whitepaper - Healthy economy carries hidden risks for developers
1. Healthy economy carries hidden risk for developers
Scarcity of trade contractors for public projects threatens higher costs
Whitepaper by K. Carroll and M. Vasbinder
Kmc, mv, January 2015 Ruscilli Construction Company, Inc. Page 1 of 4
While the US economy continues to rebound from the Great Recession, other trends are emerging within
the construction industry as trade contractors react to an influx of new work opportunities. As one of
Ohio’s largest general contractors, Ruscilli has identified one particular trend that is causing concern over
its potential for increasing costs on projects governed by Davis-Bacon and Prevailing Wage legislation.
With more opportunities to bid on construction projects, subcontractors can be more selective in the
projects they pursue and many are choosing to avoid projects subject to the reporting requirements set by
Davis-Bacon wage legislation. This could translate to higher costs and other risks for developers and
public agencies.
The Problem
The Davis-Bacon and Related Acts (DBRA) apply to contractors and subcontractors performing on
federally funded or assisted contracts in excess of $2,000 for the construction, alteration, or repair of
public buildings or public works. Created to ensure that contractors on public works projects are paid the
wage that prevails locally, federal law requires that contractors on public works projects submit weekly
certified payroll reports to ensure government contract compliance.
Davis-Bacon reporting requirements have received their fair share of criticism from small construction
businesses and trade contractors. Although the weekly wage reporting forms are relatively simple to
complete, it is estimated that it takes approximately 1 hour to complete a form containing information
about eight employees for a single job (1). Companies using 1099 employees are particularly affected by
these reporting requirements. Additionally, many popular accounting software programs used by small
businesses (like QuickBooks) are not properly equipped to track and report on all of the required
information necessary for these wage reports (2). Furthermore, the reporting process is not without its
risks: Improperly filling out the required forms can lead to a cumbersome paper process that usually
delays payment, affecting cash flow and working relationships with general contractors. Failing to
understand and rectify errors quickly can lead to penalties and fees. All of these factors discourage many
trade contractors from bidding on DBRA-governed projects (3).
As the U.S. economy continues to recover and improve, commercial contractors are enjoying increasing
breathing room as the country begins to invest again in construction. There are more projects being
planned and more opportunities to bid on them (4). This is having an adverse effect, however, on some
projects governed by DBRA laws. With more projects available for bid, many trade contractors have
more opportunity to select their preferred projects. When given a choice, the number of trade contractors
2. Healthy economy carries hidden risk for developers
Scarcity of trade contractors for public projects threatens higher costs
Whitepaper by K. Carroll and M. Vasbinder
Kmc, mv, January 2015 Ruscilli Construction Company, Inc. Page 2 of 4
willing to bid on DBRA-governed projects over non-DBRA projects is decreasing. When subcontractors
are interviewed on the subject, they reveal that the hassles and costs associated with required wage
reporting is a key factor in these decisions.
Other economic indicators show that disparate growth rates in construction employment and industry
growth further compound the issue. Experts forecast a total non-residential increase in construction
spending of up to 9% in 2015, which is in line with increases in previous years (5). Construction
employment, however, continues to increase by only roughly 3.5%, which is similar to the construction
employment increase of 2.6% that the U.S. saw from 2013 to 2014. (4). This means that although there
are more and more construction projects available for subcontractor bid, there are not necessarily enough
trade contract laborers available to meet all the demand. These factors are positioning subcontractors to
have greater liberty in selecting their preferred jobs than they had four to five years ago. When faced with
limited staff and the options of paperwork-heavy jobs versus those that are not, more and more
subcontractors are choosing projects not governed by Davis-Bacon and Related Acts.
Effects on Developers
Ruscilli saw evidence of this trend increase in Q4 of 2014, especially among carpentry, drywall and
masonry subcontractors. One of the primary concerns around this trend for general contractors and their
clients is the potential for increasing costs from skilled and unskilled trade subcontractors. Those who are
willing to bid on DBRA programs may have the opportunity to adjust their rates upwardly according to the
laws of supply and demand, which can indirectly raise costs for developers.
Developers of publicly-funded construction projects are at direct risk of cost increases as well due to other
factors. Our experience with projects governed by Davis-Bacon legislation has shown us that general
contractors with limited experience with these programs often under-bid them. The reporting
requirements are complex and cumbersome, and misunderstanding the costs associated with these can
translate to higher overall operations costs, which are usually passed onto the end client.
Additionally, inexperienced general contractors and construction managers commonly fail to account for
the slowed billing cycles, payment lags, and delayed closeout payments resulting from the DRBA
reporting processes as well. The financial stress this imposes on inexperienced general contractors can
cause firms to recoup costs later in the construction process, with some even filing claims at the end of
projects. In extreme cases, this can cause adversarial relationships and tension with clients and trade
contractors on the jobsite.
3. Healthy economy carries hidden risk for developers
Scarcity of trade contractors for public projects threatens higher costs
Whitepaper by K. Carroll and M. Vasbinder
Kmc, mv, January 2015 Ruscilli Construction Company, Inc. Page 3 of 4
Solutions
With fewer trade contractors willing to bid on publicly funded programs, general contractor firms and their
clients will need to define solutions to control risks and cost increases.
To address the effects of this shrinking pool of trade contractors, Ruscilli is aiming to educate its clients
on the potential impacts that this trend may have on estimates for DBRA-governed projects.
In selecting general contractors for projects governed by Davis-Bacon and Related Acts, developers and
public agencies should consider a general contractor’s background and depth of experience with public
projects. Choosing a general contractor or construction manager with solid experience in these programs
will lower the risk of inaccurately low bids, cost and schedule overruns, and post-project financial claims.
Additionally, developers and public agencies should look for a firm with a solid financial and credit history.
This indicates that a general contractor has a solid monetary footing and will be well positioned to absorb
any payment delays resulting from the DBRA payment process without those passing payment delays on
to clients.
As the US construction industry continues to recover, developers and public agencies undertaking new
projects need to understand the changing landscape of trade contracting. Limited labor pools and healthy
construction project volumes are allowing subcontractors to be more selective in the projects they pursue.
The hassles, expenses, and risks involved with projects governed by Davis-Bacon and Related Acts are
enough to discourage many subcontractors from participating in these programs. Those willing to gamble
on them often lack an understanding of these types of projects, or simply plan to increase their rates on
publicly funded projects. Both can lead to increased costs for a developer.
Developers can avoid these risks by choosing a well-established general contractor that has plenty of
experience with DRBA projects and a solid financial history. A stable, experienced firm will be well-
equipped to develop the most accurate estimates, avoid cost overruns due to cumbersome reporting
requirements, and withstand payment delays in DBRA projects without passing them onto their clients.
4. Healthy economy carries hidden risk for developers
Scarcity of trade contractors for public projects threatens higher costs
Whitepaper by K. Carroll and M. Vasbinder
Kmc, mv, January 2015 Ruscilli Construction Company, Inc. Page 4 of 4
Resources
1) U.S. Department of Labor, form WH-347 Inst.
http://www.eastpointcity.org/DocumentCenter/Home/View/1235
2) Sunburst Software Solutions, http://www.sunburstsoftwaresolutions.com/certified-payroll-
reporting.htm
3) U.S. Department of Labor, Office of the Assistant Secretary for Policy.
http://www.dol.gov/elaws/firststep/results.htm?fs=AF00000000000000000000000000000000
0#dbra
4) Associated Builders and Contractors, Inc. “ABC Predicts Continued Construction Industry
Growth in 2015.“ http://www.abc.org/NewsMedia/NewsReleases/tabid/144/entryid/3052/abc-
predicts-continued-construction-industry-growth-in-2015.aspx
5) Dodge Data & Analytics, “Construction Industry to See More Balanced Growth in 2015
According to Dodge Data & Analytics.” http://construction.com/about-us/press/construction-
industry-to-see-more-balanced-growth-in-2015-according-to-DDG.asp