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Jim Frame
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In my experience, the larger the client, the more onerous the contracting requirements, and the less respect they have for subs.  The administrative overhead of dealing with those clients can be so large that you need to raise your hourly rates just to accommodate the red tape and payment delays.

A few years back I did a forensic job for AECOM (a big multi-national) on a project that had gone sideways due to out-of-compliance work by a surveying sub.  My $10k invoice was minuscule compared to the project budget, but it took about 8 months to get paid.  The PM blind-CC'd me on an email to his boss that said, in part, "This is why we can't keep good subcontractors."  And he was right:  I axed them from my client list, it's just not worth the hassle.

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Adam
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 Adam
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These guys are requiring some above normal insurance coverages in my opinion. 

Worker’s Compensation:                                                                                             Statutory

Employer’s Liability –

                Each Accident:                                                                                                   $100,000

                Disease, Policy Limit:                                                                                      $500,000

                Disease, Each Employee:                                                                              $100,000

 

General Liability –           

                Each Occurrence (Bodily Injury and Property Damage):                  $1,000,000

                General Aggregate:                                                                                        $5,000,000

 

Excess Umbrella Liability –

                Each Occurrence:                                                                                             $5,000,000

                General Aggregate:                                                                                        $5,000,000

 

Automobile Liability –

                Bodily Injury (Each Accident):                                                                     $500,000

 

My insurance carrier said she had never seen a request with an excess policy of $5,000,000.

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Scotland
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When I get such high coverage, I make them pay for it or give a letter that removes the requirement.   I keep the minimum and that is enough for insurance.

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FL/GA PLS.
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@adam

If you are willing to wait for payment like Jim Frame stated in a post above. I would go for it.

The term in your contract “Client agrees  to pay Surveyor for a reasonable attorney fee (15% of the outstanding amount due and owing) if any attorney is required to collect any past due amount under this Agreement.” will never hold up in court,  a smart Attorney would rip it to shreds? 

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Cameron Watson PLS
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What's the nature of the work they want you to do?  It's a little odd in my experience to ask for such a large umbrella coverage amount and not require Professional Liability/E&O coverage.  $5M is really high for umbrella regardless.  Like Scotland said above though, whenever I'm asked to get a higher limit on a job I say sure, this is how much it will cost you.  Around here I can't get project specific riders so whenever I have to bump my limits I'm opening those limits to every Client, not just the one making the request.  I include the cost for this as well.  To date I've never actually had anyone press the issue and make me go over the $1M PL/E&O I carry. 

I would nix the attorney cost recovery language and just go with an interest rate on past due invoices.  If it gets to the point you have to engage an attorney to get paid you'll be happy to get whatever you can.  Here the interest rate is recoverable through the mechanic's lien process, I don't think attorney costs are.

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Adam
 Adam
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They are requiring E&O too. They just forgot to include it in the reply email. The work is topography and easement surveys for a sewer project.

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Cameron Watson PLS
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That's a crap ton of insurance for design work!

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