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Review Subcontract Insurance Status
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:
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