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Some of your vendors may be required to have certain types of insurance in order to work on your jobs. For example, you may require that a subcontractor has a current workers comp policy in place before going on your jobs. You will want to be notified when their WC policy expires to make sure they renew it. So, this is the place where you record that information. The type of insurance, like WC or general liability or auto or whatever. And you also record the expiration dates. Then when you enter an invoice from that vendor, the system checks to make sure all insurance policies are not expired. If any are expired, you are given a message indicating so. There is also a report that can be run showing all vendors with insurance to expire within a user-selected number of days. So you can stay on top of this very important issue.
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