Bid deducts

{
  "id": "MLC-T-INS-000555",
  "term": "Bid deducts",
  "field": "Insurance and risk management",
  "definition": "Amounts that contractors and subcontractors subtract from their bid prices for insurance costs they will not incur because the project owner or lead contractor provides workers' compensation and liability coverage through a wrap-up program. The program administrator reviews bids and change orders to confirm that deducts are taken for every coverage the program provides. Deducts apply to owner controlled and contractor controlled insurance programs alike.",
  "subject": "Workers Compensation",
  "url": "https://mlchart.com/terminology/insurance/bid-deducts/"
}