ATLANTA, Jan. 24, 2017 /PRNewswire/ -- EquipmentWatch, the world leader in data, software and insights for the heavy equipment industry, has launched a new online resource that consolidates Department of Transportation (DOT) cost reimbursement specifications for equipment used in extra work situations. Accessible at http://equipmentwatch.com/specifying/, this database provides clear explanations for the calculations used by each state DOT in situations of force account, supplemental work and standby rates as well as links to official documentation and training resources.
"Our primary goal is to shorten the time between work performed and cost reimbursement. Many of our contractor customers perform work across state lines, and keeping different state DOT specifications in order can sometimes be a challenge," explains Garrett Schemmel, vice president, EquipmentWatch. "This new database was created to assist users in understanding exactly what formulas and adjustments should be applied to the Rental Rate Blue Book rates submitted to specific state DOTs." Each individual state DOT entry provides a graphic representation of formulas used to calculate hourly equipment costs for both active and standby use, links to the state's standard specification documentation, and a video tutorial for using EquipmentWatch's Cost Recovery product online.
The online database is also a valuable resource for public and private project owners who wish to research standard cost reimbursement practices for inclusion in their own project specifications. By choosing to specify widely accepted standards for equipment cost recovery at a project's inception, specifiers can prevent costly delays that often stem from inevitable extra work situations.
Designed for construction professionals, the EquipmentWatch specifying organization database is a free resource and can be found at http://equipmentwatch.com/specifying/. Organizations who wish to be considered for inclusion in the database should contact Dahshi Marshall, Director of Business at firstname.lastname@example.org.
EquipmentWatch is the trusted source for heavy equipment data and intelligence. EquipmentWatch produces the leading database information products for the construction equipment industry and is the world leader in heavy construction research and serves more than 15,000 professional, high-volume users of construction and lift-truck data. Our products are valuable tools in decisions surrounding the purchase, valuation, operation, and disposal of equipment.
For nearly 50 years, EquipmentWatch has served contractors, equipment manufacturers, dealers, rental companies, lenders and insurers, and government agencies involved in heavy civil construction.
EquipmentWatch is part of Informa, the international business intelligence, academic publishing, knowledge and events group. Informa serves commercial, professional and academic communities, helping them connect and learn, and creating and providing access to content and intelligence that helps people and businesses work smarter and make better decisions faster.
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