Monthly Archives: December 2016

Business Secrets of Bonding

Laurel and Hardy. Ben and Jerry. Bonding companies and money. They just go together!

Let’s take a look at the focus bonding companies place on money when providing Bid and Performance Bonds. It’s a matter of survival. If called upon, the surety hopes to complete the project with the remaining (unpaid) contract funds. We will see that they track a number of elements. Learn about them here so you know what’s ahead.

Of course there is a significant financial evaluation of the applicant (the construction company), a subject we have written about extensively. Visit the index of article subjects in the “Secrets” web site. Here we will talk about just the bonded construction project.

An early money question is “how is the work funded?” Most bonded jobs are public work. This means the project is paid for with tax dollars. On private contracts, the work can be funded in a number of ways. For commercial building, the project owner may have a construction loan or set funds aside in an escrow account. In any event, the bond underwriter wants to be sure the contractor will be paid after they incur costs for labor and material. Not being paid could cause the company to fail and result in claims on all open bonds.

Regarding the new contract, the surety will ask:

  • How often will the contractor be paid?
  • Is a portion of the contract amount paid up front, immediately when the work commences?
  • Are there Liquidated Damages – a financial penalty assessed per day for late completion of the work?

Once the contract is underway, the surety wants to monitor the money:

  • Is the job proceeding profitably, and therefore headed for a successful conclusion?
  • Do the contractors billings correlate with the degree of completion? It can be dangerous when they get too far ahead by billing the job aggressively.
  • Are suppliers of labor and material being paid on a current basis (by the contractor / surety client)?
  • Is the project owner paying the contractor in accordance with the written payment terms?

Sometimes underwriting issues are resolved by using a “funds administrator.” This procedure is intended to enable the contractor to perform the work, while the money handling is performed by a professional paymaster. The paymaster pays all the suppliers of labor and material, plus the contractor. This procedure minimizes the possibility of claims under the Payment Bond.

When the project reaches a conclusion, there are some important transactions at the end:

  • Final payment – the contractor collects the last regular payment under the contract. There may be a requirement for the bonding company to issue a consent for this payment to be released. If there are any problems or issues, they may withhold such approval. Underwriters may ask to see lien releases (from suppliers of labor and material) to assure that everyone has been paid – thereby assuring no Payment Bond claims.
  • Release of Retainage – the contractor may now collect a percentage of the contract amount that was methodically held back (retained) as security for the protection of the project owner. Surety consent may be required for this, too. The owner will not release this money unless all the loose ends are resolved, referred to as a “punch list.”
  • Bond “overrun” premium – normally the surety is automatically required to cover additions to the contract amount. Therefore, they are entitled to an additional premium for such exposure. If not collected during the life of the project, this would be a clean-up item at the end. Sometimes a refund is issued for an “underrun” (net contract reduction.)

The Overview of a PIC Claim in Singapore

Setting up of a business and running it is not an easy task to accomplish. We expect proper help and support in the initial stages of business set-up to be able to make it profitable. Singapore is a country which provides ample support and even gives almost 400% tax relaxation for any small businessman dealing in PIC. Singapore is a small country in the Southeast Asia, and is known for the ease of business that it offers to various businessmen, both in-house and foreign. The country is only 137 km from the equator and has a very uniform climate all over the year.

The monsoon is good and the relative humidity is on the higher side. The climate is complimented with the friendly initiative by the Government and has created an admirable way of doing business. The PIC initiative has been a success as more people are trying to set up their own venture. Before dwelling any further on the improvement it has brought to the lives of these businessman, let us get a better understanding of the systems that have boosted the economy of Singapore to an advanced position.

PIC Claim – Why it is success

Any company or business initiatives can register for the PIC claims in Singapore which is trying to work on the development and progress of the six Government quality activities. The firms can claim tax deductions up to 400% of the profit and even can opt for 60% of it as cash payment. Naturally, any business trying to make its mark in this field can expect a good return and profitability when investing. Moreover the scheme helps a lot as the number of such businesses is on a rise.

PIC Claim – How does it works?

PIC or Productivity and Innovation Credit Scheme is a step taken by the Government of Singapore in 2010 and the regulations and grants are modified in subsequent years. The scheme caters specifically to the small and medium scale enterprise and businessmen by providing lot of tax reliefs and other financial help. The tax deductions are 400% which are also applicable to allowance and it can be opted in cash to almost 60% which have been reviewed to 40% recently.

The scheme allows individuals with the six quality business identified by the Government. These are.

• Design projects approved by Design Singapore Council
• Acquire and lease PIC information technology and automation equipment
• Training of Employees
• Acquire and lease intellectual property rights
• Research and development activities
• Registration of patents, trademark, designs and plant varieties.

The total financial calculations are done for the budget year and the taxable income is determined. The tax deductions are enjoying huge benefits and more entrepreneurs are flocking the job market with their business ideas.

Let us see how each of the six fields works and what are the areas they are supposedly excel to apply for the PIC Scheme.

a) Any physical production requires a design. The Government provides all the benefit of any the design that is made in-house or outsourced to any party. It takes care of the cost incurred by the firm to finally submit the design for further actions.
b) Any purchase or lease of computers, software or hardware and outsourcing them to any other company will make you eligible for the scheme.
c) Any cost borne by the company for skill up gradation of its employees through in-house or external training is also appreciated.
d) Any patented r copyright material is costly. The government pays the business which does this by providing grants under this scheme which takes care of all the expense that has incurred for buying patented and copyright materials.
e) For any country to make progress, research and development of the existing technologies is a must. The government has identified it to be one of the major sectors where it has decided to focus more. Thus any cost that the company has carried out can be eligible under this scheme for validation and approval.
f) Similar to the research and development sector, it is also very important to preserve the cultural and technological milestones that have already been done, as well as the natural resources. The Government provides enough initiative to those who goes to the patent office to get their patent registered.

Checklist for Pa IC Scheme

Though a lucrative scheme by the government, you should be aware of a few facts before you submit your application form for consideration. Always remember to take proper care and understanding the basics of the rule will make the process easier and faster both you and the government.

i) You should know the components and the expenditure of the requirement properly. Submitting a form for something else while you did business in some other area won’t help and application may get rejected.
ii) You must fill the form thoroughly and completely. No incomplete forms are entertained. Submission of forms without completing it will result in wastage of time.
iii) Always provide enough documents as a proof of your claim. The documents help with the intricacies of the system and make your claim more valid.
iv) Always be clear about your income and what the extent of the qualifying amount is. The PIC scheme works only for the qualifying amount and not the total income you had.


PA IC claim is a very good way of doing business which benefits both the government and the business man. The overall development of the country also improves dramatically. The Government can always find latest technologies and equipments at their disposal while the firms get the financing done in a way which will provide the extra investment for them.

The government is wary of any miscalculations that you have so, making false claims or claiming more than what you deserve may land you in trouble. You can get the application or the claim rejected or worse, while you may also lose credibility. Understanding and enjoying the scheme is beneficial if know the rules properly.

Meaning of Sealing Material and Food Grade Concrete Sealer

Concrete counter tops are stain prone and need high maintenance. The sealers have come a long way from the simple wax and acrylic sealers to most modern epoxy sealers. With the right sealer, you can have a stain-resistant, heat-resistant, scratch-resistant, Food Grade Concrete Sealer, easy to clean, easy to maintain and smooth counter top.

Bare concrete is porous and vulnerable to staining and chemical attack. Liquids will soak into the surface, carrying stains into the concrete itself. Acidic substances like vinegar and lemon juice will dissolve the cement paste.

Sealing material characteristics that are important to clients are:

• Enhance the appearance of the concrete without degrading the look or feel
• Non-porous
• Completely resist stains from food, oil, and other household substances
• Resist heat from hot pots and pans
• Resist UV degradation and yellowing from sunlight
• Scratch-proof
• Food Grade Concrete Sealer
• Easily cleaned using common household cleaning products
• Provide long term protection without the need for frequent maintenance
• Easy to repair& maintain

Sealing Materials: Sealers have two groups namely Penetrating sealers and Topical sealers.

Penetrating sealers come in the form of liquids that are applied to bare concrete, soak in, and then once wiped off and dried, are usually almost invisible.

• Densifiers are water-based chemicals that react with the cement paste in the concrete. The reaction generates cementing agents that increase the strength of the surface concrete and fill the pores. The cementing agents that are generated during hardening often serve to provide some color enhancement. Densifiers are often applied before repellents.

• Repellents are a concrete treatment that changes the surface tension characteristics of the concrete so that liquids bead up easily. They create a hydrophobic water-shedding effect when applied to the concrete.

Topical sealers make up the most of the sealers on the market as listed below:

• Wax is the most basic sealer. Generally, a high-quality floor wax that contains carnauba and beeswax, or just pure beeswax, is used. Automotive paste wax should not be used for sealing because of the additives it contains.

• Acrylic is a solvent based or water based, are the next most basic and common concrete sealers. Acrylic sealers are easy to use, available easily and relatively inexpensive. They are widely used for sealing floors and driveways, and provide modest protection. Acrylics generally provide heat resistance but are UV resistant.

• Epoxy is a two-component chemical system and you need to mix them to form the coat. The chemical reaction is irreversible, and the end result is a very durable, very hard surface. Epoxies are expensive chemicals and one need to follow a proper process to apply them. There are three basic types of epoxies: solvent based, water based and 100% solids. They are key to a Food Grade Concrete Sealer. They are widely used in industrial kitchens.

• Urethane are the type of sealers that has many of the Ideal Sealer characteristics. Some are a single part, and others are two part. Urethane, in general, are stain and heat resistant, provide good UV resistance, very tough and scratch resistant. They provide a glossy finish also.

Myself David Ryan, director of EP Floors Corp., a specialized Epoxy Flooring Company providing Food Grade Concrete Sealer service for commercial use. I am here to share my expertise and participate in discussion to flourish my knowledge here.

Business Aloe Vera Juice Factory

Aloe Vera juice comes with many benefits:

  • Aids in digestion and relieves occasional constipation
  • Increases alkalization and reduces acidity in the body
  • Encourages normal stomach lining
  • Reduces acid and stomach ache
  • Supports learning, memory, and mood

How to get the most from aloe Vera juice

For you to get the most from the juice you need to do a number of things that include:

Take the juice on an empty stomach: To optimize the functioning of the juice you should take it on an empty stomach. The best way of going about it is taking the juice when you wake up and when you get home in the evening. To increase the rate of digestion, experts recommend that you avoid hot foods and drinks one hour after taking the juice. You will even be better off if you could avoid taking the food at all.

Pay attention to the dosage: To get fast results, many people go for a high dosage. This shouldn’t be you. When you are just starting taking the juice you should start on small doses and then increase the dosage over a period of time. As rule of thumb, you should avoid taking too much of it thus putting your life at risk.

Give the juice time to work: We are living in a world where people want instant gratification. Many people want to do something today and see the results tomorrow. It doesn’t work this way even when you are taking aloe Vera juice. You should note that the juice isn’t an overnight cure-it will take time for it to work. Experts recommend that you give the juice up to 3 months for it to work. During this time you should avoid smoking or eating unhealthily.

Store the juice properly: How you store the juice determines how long it will last and how effective it will be. You should store it open in your fridge for up to 3 months. If you don’t have a refrigerator, store the juice closed at room temperature. You should pay close attention to the expiration date of the juice to avoid side effects.

Be on the lookout for the “detox” effect: When you are taking aloe Vera, it’s common to have headaches, rashes, and even diarrhea. These effects are common when you are taking high doses of the juice. When you experience the effects you should lower the dosage for a few days.

How to get aloe Vera juice

There are two main ways in which you can get the juice: buying it and making your own. You can buy the juice while it’s already made or buy aloe Vera leaves. You can also go to the garden and get your own leaves. When getting the leaves, you should use a sharp knife. This is to ensure that you get a clean cut that won’t damage the leaf.

It’s almost impossible to take the juice on its own-you should make it palatable by adding fresh lemon, orange juice, lime, or any other of your favorite fruits.