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The modern world is full of rules and regulations. These laws keep order but also require responsibility. So if your company especially deals with large amounts of vendors, tenants, or contractors, then you really want to be positive that they are all in good legal standing.

Correct licensing includes items such as personal liability, worker’s compensation, and property damage coverage. When hiring, you must ask for copies of insurance certificates and double-check that they are current. If not, you could be held liable for any injuries and damages that occur during the project.

However, you probably understand how having a larger number of contractors or vendors in your charge causes craziness in the process of tracking paperwork. And even if they were initially up-to-date when you hired them, licensing expires and requires renewal. This becomes a problem when both you and your vendor forget.

Nowadays, the general solution to this problem is through dependence on automated systems for tracking these numbers. Unfortunately, these information technology systems are not as accurate as you might be led to believe.

Every organization slightly differs in their request of paperwork, fees, information, and deadlines. Although their purpose is to provide the fairest possible environment for everyone involved, it can sometimes be a hassle to comply. You have to become familiar with the nuances and keep an eye on the expirations of each one that relates to your particular business. A few of the main organizations that mandate agreement to particular standards are the following:

 

OSHA (Occupational Safety & Health Act)

“Under the OSH Act, employers are responsible for providing a safe and healthful workplace. OSHA's mission is to assure safe and healthful workplaces by setting and enforcing standards, and by providing training, outreach, education, and assistance. Employers must comply with all applicable OSHA standards. Employers must also comply with the General Duty Clause of the OSH Act, which requires employers to keep their workplace free of serious recognized hazards.”

 

FERPA (Family Educational Rights & Privacy Act)

“FERPA is a Federal law that protects the privacy of student education records. The law applies to all schools that receive funds under an applicable program of the U.S. Department of Education.”

 

HIPAA (Health Insurance Portability and Accountability Act)

“The Office for Civil Rights enforces the HIPAA Privacy Rule, which protects the privacy of individually identifiable health information; the HIPAA Security Rule, which sets national standards for the security of electronic protected health information; the HIPAA Breach Notification Rule, which requires covered entities and business associates to provide notification following a breach of unsecured protected health information; and the confidentiality provisions of the Patient Safety Rule, which protect identifiable information being used to analyze patient safety events and improve patient safety.”

 

Food Handlers' Permits

If you are in any way handling food, whether extensively as a chef in a restaurant or a server in a catering service, you must have a food handling permit. This is proof that you have received the proper training to help you know the level of safe and healthy behavior required when dealing with food. Different states may have varied requirements but all food handling permits generally require course training and assessment.

So how do you ensure that your contractors have the proper paperwork up-to-date? Usually, most licenses need renewal every two to four years. Beginning the paperwork at least two months before the expiration date is a wise move. That is why BCS scans and uploads the licenses to an online document repository for easy and convenient client access. Then vendors are notified of upcoming license expirations in a non-threatening manner at intervals previously agreed upon through an established system.

Instead of relying solely on automation, BCS compares vendor documents and data with your unique terms and conditions and corrects all deficiencies (working one-on-one with vendors and agents). BCS performs work for a plethora of businesses ranging from shipping services, hotel and property management, real estate construction, investment firms, and energy companies. Letting BCS collect, correct, and protect your organization from vendor risk allows you to refocus your time and attention on the critical issues.

For more information about a solution that's right for your organization, see visit our website.

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