Rental rates for equipment use on force account work
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Rental rates for equipment use on force account work by Montana. Dept. of Highways

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Published by The Dept. in Helena, Mont .
Written in English

Subjects:

  • Costs,
  • Road machinery,
  • Industrial equipment leases

Book details:

Edition Notes

StatementState of Montana, Highway Department
The Physical Object
Pagination27 p. ;
Number of Pages27
ID Numbers
Open LibraryOL25487986M
OCLC/WorldCa819588283

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Most DOTs use rental rate manuals to determine equipment reimbursement. Past records show that depending on the manual used, the rental cost for the same piece of equipment can vary from 10 percent to well over percent and that such large variances occur for practically all types of equipment. The FHWA (Federal Highway Administration) has approved the use of Rental Rate Blue Book on federally funded projects. The most common application is in force account work and for federally funded projects. FHWA (Federal Highway Administration) has limited their participation in matching funds with state highway agencies (using Rental Rate Blue Book) to the monthly rate divided by (hours/month. The most common application is in force account work and for federally funded projects. FHWA has limited their participation in matching funds with state highway agencies (using Rental Rate Blue Book) to the monthly rate divided by (hours/month) plus the hourly operating cost. Owned Equipment • Equipment Watch Rental Rate Blue Bookwill be used to determine equipment rates for force account billing. – Prime Contractors will subscribe to the Blue Book and acquire rental rates for contractor owned equipment used on force accounts.

The cost of the work plus a fee (a.k.a. Force Account Work). Some contracts allow owned equipment costs based upon a published equipment rate manual. The most common of these is the Rental Rate Blue Book For Construction Equipment, currently published by Equipment Watch. This manual is currently used by most State Highway Departments. Monthly rental rates vary from 2% to 5% of the purchase price of the equipment depending on the anticipated life of the equipment and its wearing parts. Weekly rental rates are about 1/3 the monthly rates, and daily rental rates are about 1/3 the weekly rate. Rental rates can also be treated as reimbursement costs for contractor-owned equipment. Construction Plan Extra work rates, equipment data, and fleet insights to optimize decisions across the equipment lifecycle.; Finance & Insurance Plan The most accurate source of equipment values & comps on the market, trusted by the nation’s top lending institutions.; Dealership & Rental Plans Software tools and market intelligence designed to assist the entire organization in making data.   The personal property tax liability (USA style) is likely the equipment owner's liability, so it should be built into the calculation of the rental price. But, get professional advice on whether you need to file personal property tax returns.

Specify the contra/clearing account that you will use to balance or offset depreciation cost for your asset rental. You must enter the account in the business iary format. If you leave this processing option blank, the system uses the accounting details of the asset from the Equipment . FORCE ACCOUNT EQUIPMENT SUMMARY INSTRUCTIONS. FEMA Form Force Account Equipment is the term used to define equipment the applicant owns. Complete the Record as Follows: * Applicant: Enter organization's name. * PA ID No.: Enter the computer tracking number that FEMA assigns to applicant organization. DETERMINATION OF CONSTRUCTION EQUIPMENT RENTAL RATES IN FORCE ACCOUNT OPERATIONS FOR FEDERAL AND STATE GOVERNMENT AGENCIES. Construction equipment rental rates vary widely according to factors such as type and age of the equipment, capacity, estimated operating costs, availability, and the geographic and climatic conditions at the job site. Rental Equipment Rates Vol Rates are subject to change without notice. CREDIT POLICY: You must have established an account or a deposit will be required. Rental rates are based on an 8-HOUR DAY, HOUR WEEK, HOUR (4-WEEK) MONTH. Overtime charges will be prorated at 1/8 of the Daily Rate for each hour over eight hours in a day. Rental.