The Owner's Architect

Project Costs
Some might say that contractors are a dime a dozen and that they are generally all the same. Not true! Contractors that are near insolvency are not a good risk. Contractors that can’t get subcontractors and suppliers to work with them are not a good risk. And contractors that have been beat down on their fee are not a good risk.
Contractors are required to carry a boat load of insurance. How difficult is it for a builder to get a standard insurance policy? Who pays the premiums? Suppose you have beat your contractor down so much that he is looking to pinch every penny. Suppose he is not quite honest. And suppose he buys an insurance policy on a three month basis just to get the job, after which he stops paying the premiums. Yes it is true that the issuer is required to notify the certificate holder that the policy is cancelled. But just suppose that before that all transpires, the contractor’s carpenter has an accident and now wants compensation. Qualified contractors are worth their pay.