Business Practices for Contractors
This five hour course concentrates on topics important to the everyday running of a successful construction business. The principles of contract law and the important elements of a home building and remodeling contract are important for any industry professional. A thorough understanding of lien laws, business and financial practices, and especially labor related rules and requirements is a critical component of running a profitable organization.
Learning objectives are provided to facilitate student understanding and progress. Chapter assessments measure understanding of the material. Students must answer 70% of the questions correctly in order to receive credit/certification for the course.
Chapter 1 – Contract Law (60 minutes)
*Learning Objectives: 1) Describe the contents of a basic construction contract. 2) Explain the difference between fixed-price and cost-plus contracts. 3) Interpret and explain basic contract terms and language.
1. Contract Elements
3. Types/Methods of Construction Contracts
4. Contract Documents
Chapter 2 – Construction Lien Law (45 minutes)
*Learning Objectives: 1) Explain how lien laws protect the rights and interests of both the builder and the consumer. 2) Define what a lien is, as well as how and when a lien should be filed. 3) Recognize the various forms and deadlines that must be observed in order to protect lien rights.
a. Pre-Claim Notices
b. Post-Claim Notices
3. Order of Events
4. CCB Construction Lien Information Pamphlet
Chapter 3 – Business and Financial Practices (45 minutes)
*Learning Objectives: 1) Understand and describe the basic payroll and tax responsibilities of an employer. 2) Identify the proper federal and state tax forms that any business must complete. 3) Recognize the importance of recordkeeping and the need for record retention. 4) Explain the basic concepts of accounting systems, including internal controls and financial statements.
1. Business Startup and Taxes
2. Record Keeping
3. Accounting Systems
4. Regulatory Requirements
a. Excise taxes
b. Payroll taxes
Chapter 4 – Employer Obligations and Employee Rights (120 minutes)
*Learning Objectives: 1) Be familiar with workers compensation, unemployment and prevailing wage laws. 2) Describe the important aspects of Labor Law, including the Fair Labor Standards Act, which establishes standards for minimum wages and child labor. 3) Be able to outline the interviewing and hiring process.
1. Hiring Employees
a. Independent Contractors
b. Classifying Employees
2. Workers’ Compensation Insurance
3. Employee Documentation
4. Labor Laws
c. Prevailing Wage
5. Employee Rights
a. Sexual Harassment
b. FMLA (OFLA)
Course instructors will be available by email or telephone between 8am and 6pm Eastern Standard Time. They will assist you with questions regarding course content.
If you have any questions, please call us at 1-800-727-7104 or send an email to email@example.com. Email responses will usually be returned promptly, but guaranteed within one business day.
Student policies and procedures are always available by going to our website and scrolling to the bottom of the page (See Attendance, Privacy and Refund Policy).