Business

How to Make Sure Your Company is Meeting Compliance Obligations

 

When businesses work with contractors, they need to ensure all contractors have up to date licenses and insurance, and they’ll need to make sure the contractors are adhering to the terms of their contract. All of this can be difficult to keep track of, but it is crucial to ensure compliance to reduce potential risks. There are a few steps businesses can take to ensure they’re meeting compliance obligations. 

Require Updated Information from Contractors

The business must make sure they require updated information from contractors so this can be kept in the business’s files. When insurance documents are needed for contractor compliance, for instance, the business will need to make sure they have updated information at least once per year. All the information should be kept by the business so it can be referenced when needed. This will ensure the business can show they are compliant with all local rules and regulations to avoid fines and other issues. 

Keep All Compliance Information Stored Together

Once the business has the updated information, they need to make sure it’s stored appropriately. The information doesn’t help if they can’t find it when they need it. There are programs available now like LinkSafe’s contractor management system that make all of this a lot easier. The information can be uploaded into the program and will be accessible any time it is needed to demonstrate compliance. This reduces the chance of fines or other issues due to lost paperwork. 

Send Reminders When Updated Information Is Needed

It is possible the contractors will forget to provide updated information to the business. This is very common, and it means that the business will need to send reminders when it’s time to update the information on file. The business should ensure they have updated contact information for each contractor so they can send out reminders periodically and ensure the documents are turned in on time. 

Learn What to Do If Contractors Aren’t Compliant

All the above steps are designed to help ensure contractors are compliant, but there may be situations where one is not. If this happens, the business will need a plan for how to handle it. They will want to investigate the contract they have to make sure they have a way to stop working with a contractor due to noncompliance. They will then need to take the right steps to end the relationship and start working with a new contractor who is able to remain in compliance. This needs to be done carefully, however, to prevent any issues for the business. 

If you work with contractors and need to make sure they remain in compliance, use the tips here to make this as easy as possible to do. When you have a plan in place for keeping everything updated and organized, it’s easier to show your business is compliant and easier for you to make sure all contractors are compliant. Check out software designed to make all this easier today to learn how you can save time and ensure everything is done. 

About the author

Paul Petersen

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