Article 26 gets revision, applause from subcontractors.Robert Samela, president of the Subcontractors Trade Association, Inc. has announced that article 26 of the Standard City Contract, entitled "Methods of Payment for Extra Work," will be revised by the city. The STA's Public Agency Committee and the Mayor's Office of Contract Services (MOCS MOCS Managed Object Conformance Statements (ITU-T M 3000) MOCS Military Occupational Classification and Structure MOCS Microsoft Official Curriculum Seminar MOCS Multichannel Ocean Color Sensor ) have worked together to revise the article which Maria G. Simpson, Director, has confirmed. This revision now considers the insurance costs associated with Workers' Compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. , Payment Bonds and Performance Bonds, as direct costs on all change orders. Article 26 governs the pricing of change orders, and as part of the Standard Construction Contract created by New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. in October 2000, the article stated that all job-related insurance costs, including liability insurance, surety bond surety bond An insurance fee required before a duplicate security is issued to replace one that has been lost. The fee is approximately 4% of the market value of the security to be replaced. premiums and workers compensation premiums were dropped as a compensable com·pen·sa·ble adj. Being such as to entitle or warrant compensation: compensable injuries. Adj. 1. direct expenses. Instead, they were considered to be overhead which would be compensated at the very same 10% rate as was provided when all insurance premium costs were paid as a direct expense. This injustice--as the STA cals it--was recently amended after 16 months of effort by the STA's Public Agency Committee. At a meeting between the STA's Committee and the Mayor's Office of Contract Services (MOCS), Maria G. Simpson, Director of MOCS, announced that on or before Feb. 28, 2006, the City would be revising Article 26 of the Standard City Contract to include insurance costs for worker's compensation and performance surety bonds. Costs related to Extra Work for worker's compensation insurance and performance and payment bonds were moved out of overhead and made a reimbursable re·im·burse tr.v. re·im·bursed, re·im·burs·ing, re·im·burs·es 1. To repay (money spent); refund. 2. To pay back or compensate (another party) for money spent or losses incurred. direct cost. The revision of article 26, which was spearheaded by the STA, represents a major step in workers' rights in New York City. |
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