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[Professional liability application]Procure ARCHITECTS & ENGINEERS application INSURANCE FOR ARCHITECTS & ENGINEERS This is an application for an errors and omissions package policy designed for architects

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How to fill out builders risk project value

01

Determine the estimated completed value of the project including all materials and labor costs.

02

Calculate the soft costs associated with the project such as permits, design fees, and financing costs.

03

Consider the cost of temporary structures or extra expenses that may arise during construction.

04

Add up all these costs to get the total project value for the builders risk insurance policy.

Who needs builders risk project value?

01

Builders, contractors, developers, or property owners who are involved in construction projects and want to protect their investment.

02

Lending institutions or banks that require builders risk insurance as a condition for financing the construction project.

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What is builders risk project value?

The builders risk project value is the total cost of the construction project, including materials, labor, and overhead.

Who is required to file builders risk project value?

The contractors or project owners are required to file the builders risk project value.

How to fill out builders risk project value?

To fill out the builders risk project value, one must calculate the total cost of the project and report it accurately.

What is the purpose of builders risk project value?

The purpose of builders risk project value is to ensure that the project is adequately insured in case of damage or loss during construction.

What information must be reported on builders risk project value?

The builders risk project value must include details of the construction project, such as location, value of materials, and estimated completion date.

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