From the category archives: Legal

Legal

Preparing for the First Contractor-Surety Meeting

Successful contractors spend time and effort establishing their first surety company relationship. Contractors that want faster answers and the benefit of the doubt from their surety in a delicate situation will always welcome face-to-face visits with their professional agent and underwriter. 

Inside the Mind of a Surety Bond Underwriter

It is truly amazing how much risk contractors take on a daily basis for a seemingly modest return. Likewise, for the surety underwriter—which is, in fact, guaranteeing the contractor’s work—a tremendous amount of trust is involved.

Executive Insights

  Eighteen surety experts offer advice on how contractors can take their bonding capacity to the next level, how character impacts bondability, the cash management techniques contractors should employ to be successful as the economy recovers, and the bonding implications as the government promotes joint ventures as a way for small businesses to participate in federal projects.


Beyond the Basics: Three Overlooked Bonds to Keep Projects on Task and on Target

There are numerous types of bonds to consider depending on the size and scope of a project. Don't forget about wage and welfare bonds, transactional commercial surety bonds and subdivision/completion bonds.

An Overly Soft Credit Environment Can Adversely Affect Small Contractors

Fast bond products or “quick issue” bonds have sped up the process of obtaining a bond for smaller projects. Quick turnaround and minimal underwriting—sometimes solely based on credit score—allow for speedy answers when time is of the essence. That’s the upside. The downside of this softer credit-based underwriting is that the relationship-building and counseling process can suffer. 

Three Onerous Contract Provisions to Avoid

Contractors must carefully read and study contracts before signing them. While this may seem obvious, it is surprising how often project participants sign agreements containing clauses that a party did not read, did not understand or did not take seriously.

‘Blacklisting’ Final Rule Takes Effect

Under the new “blacklisting” rule, effective Oct. 25, federal contractors and subcontractors are required to disclose any violations of 14 federal labor laws and OSHA-approved state plans to an Agency Labor Compliance Advisor (ALCA). ALCA will perform an assessment of the violations and make a recommendation to the contracting officer about whether a federal contractor is responsible enough to be awarded a contract covered by this rule. 

New Overtime Rule Raises Exemption Threshold to $47,476

  The Protecting Workplace Advancement and Opportunity Act (S. 2707/H.R. 4773) has been proposed to require the DOL to examine the impact on stakeholders, including the public sector, before implementing any changes to the exemptions. The employer community is expected to redouble its efforts in support of this legislation and other solutions. 

Technology, Insurance and Personnel Drive Safe Auto Programs

In the following Q&A Travelers offers insight on recruiting qualified commercial drivers and integrating them into a company’s safety culture, as well as the impact of telematics on construction fleets and the insurance products needed to limit financial liability.

OSHA Delays Enforcement of Anti-Retaliation Provisions in Electronic Reporting Rule

OSHA has delayed enforcement of the anti-retaliation provisions in its electronic injury reporting final rule from Aug. 10 to Nov. 1. Just days before the announcement, Associated Builders and Contractors (ABC), TEXO and a coalition of stakeholders filed a lawsuit challenging the rule’s anti-retaliation provisions, which will limit some forms of post-accident drug testing and safety incentive programs by deeming them to be unlawfully retaliatory.
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