Licensing & Regulatory Compliance

The construction industry is one of the most heavily regulated industries. There are regulations for contractual agreements, building codes, insurance and bonding requirements, credit checks, lien requirements, safety requirements, and the list continues. With construction projects, big or small, it can be difficult for contractors to keep track of every regulation along with busy schedules, budgets, deadlines, and change orders.

One way to be regulatory compliance involves learning the basic requirements for each field, like contract agreements, building codes, bond requirements, lien requirements and so forth. A deep dive into the details of every regulation is not needed to get a full grasp of the whole picture. But be sure to check with the relevant authorities in your local area so you know what applies to you.

To ensure effectiveness, contractors and/or managers should actively communicate regulation requirements to everyone participating in the project. They should also collect all relevant documentation and store it in a save space. It is also essential to communicate with parties when documents, such as licenses or permits, are expiring.

Another way to improve compliance with regulations is to create a Manual Compliance Program. This program would be responsible for keeping track of all compliance data, updates, and regulations. It would be a system where any employee can easily access documents and check expirations.

Lastly, the attorneys at RAK Law Firm can aid you in complying with regulations. We cover all regulations that may affect your business or construction project. If you are a busy contractor who is concerned about heavy fines or lawsuits, our attorneys can help avoid those predicaments.