Vendor compliance can be complicated for chain store maintenance departments. Learn
how FM Dashboard CMMS can help you reduce exposure automate the management
process.
As a maintenance manager for a chain store, how do you make sure your contractor documents are up-to-date?
Contractor compliance can be a nightmare, and a simple error can lead to massively expensive consequences.
Fortunately, FM Dashboard's CMMS solution has your back.
Before we get into how this works, let's take a look at what you need to stay in compliance, and the consequences if you don't.
Key insurance requirements for vendor compliance.
Before a contract sets foot on your property, it's your responsibility to make sure you have a current certificate of insurance from your contractor's insurance carrier.
This policy should cover:
And, it's not enough to simply obtain a copy of their policy. You need to have an ACORD form listing the policy information. It must also:
It's a good idea to check with your legal team to get a copy of the minimum coverage requirements. This is most likely based on requirements from your company's insurance provide.
What are the consequences of non-compliance?
This depends on your jurisdiction and your insurance coverage. However, generally speaking, your company will be liable for any expense related to an accident or damage caused by your contractor.
If a contractor hurts themselves while working at one of your sites, and they do not have their required workers compensation coverage, either you or your workers compensation coverage could be responsible for the expense.
The same goes with customer injury or damage to property. It is not a situation you want to experience.
How can FM Dashboard help?
Vendor compliance is a significant responsibility to keep up with by yourself. You deserve a CMMS platform that offers you peace of mind.