PENTA Learning Center is an evolving tool. Additional content is added as soon as it is available.

Review Subcontract Insurance Status

Owned by Joseph Wall (Deactivated)
Last updated: 06 21, 2022 by Claire Aleman

Overview:

The Subcontract Insurance is tracked in PENTA via the expiration date.  A Subcontract Insurance Hold can be automatically placed on invoices entered when the subcontract or vendor insurance has expired.  To release the Hold, the insurance can be updated to a future expiration date (provided by the Subcontractor) or manually overridden.  Therefore, it is important to track and maintain current subcontract/vendor insurance in PENTA to prevent unnecessary holds.  A workbench panel exists to track coming due and expired Subcontractor Insurance.

Benefits:

  • PM: Subcontractor Insurance Status panel serves as notification to be proactive in maintaining insurance
  • The hold on payment serves as leverage for Subcontractors to maintain insurance and provide the information timely

Roles:

  • Accounts Payable Manager
  • Controller
  • Project Controller

Additional Content

Location:

  • Project Management > Committed Costs > Subcontracts
  • Accounts Payable > Vendors > Vendor Insurance
  • PENTA Workbench > PM: Subcontractor Insurance Status

Video:

Have feedback? Copy URL for this page and click here: https://www.surveymonkey.com/r/SBZKYY7

Confidential Proprietary Information - For Penta Customer Use Only
Penta Technologies continuously strives to improve customer content, therefore, information is subject to change at any time.