Posts Tagged 'Surety'

We are pleased to present below all posts tagged with 'Surety'. If you still can't find what you are looking for, try using the search box.

Executive Insights: Surety Bonding

Twenty-one top surety experts discuss the bonding implications of joint ventures, how safety impacts bonding, efforts to increase diversity in the industry, and the market intelligence surety professionals can offer their clients.

Differences Between a Surety’s and an Owner’s Prequalification Process

With so many resources available to project owners—and with the primary emphasis on contractor prequalification through a reputable surety—contractor default mitigation becomes a manageable process, which greatly enhances the chance of successful project completion. 

Claims Management: A Problem-Solving Approach

Contractors that leverage their existing skills in identifying and mitigating risks, and that take steps to proactively and thoughtfully manage claims, will minimize their claim-related costs and optimize claim outcomes.

Eight Ways to Improve Surety

As a result of the construction recession, many contractors are feeling the pinch from their surety company and it’s affecting their balance sheet. Every job is scrutinized and subject to intense questioning, which leads to slower approvals. Profit margins have decreased, bid lists are long, private work is minimal and the credit markets aren’t loaning money. Now, more than ever, it’s imperative that contractors do everything in their power to build or maintain their surety relationship.

Surety Bonds Offer Protection for P3 Risks

While procurement methods for construction continue to evolve in the United States—including the increased use of P3s—construction risks remain the same. Surety bonds provide the best protection for owners, contractors, subcontractors and taxpayers.

Making Diversity a Priority

There are ample reasons for members of the construction and surety industries to strive for increased diversity, but the most compelling reason is the power that derives from a group of diverse individuals with different backgrounds and points of view “thinking together.” Diversity drives innovation, and in a rapidly changing workplace, innovation drives success.

The State of the Insurance Market

As construction firms budget for the second half of 2014, one of the major expense items under review is insurance. Formulating an accurate picture of the future requires examining the impact of recent industry metrics.

Executive Insights: Insurance & Surety Bonding

Insurance and surety experts discuss how contractors can leverage surety bonding when competing for private projects; how
they can ensure they are not purchasing a fraudulent bond; what major factors they should evaluate when selecting a surety; and what documentation they should bring to an initial meeting for establishing a bond limit.

When State Laws Conflict With Payment Bond Terms

Payment bonds are always associated with contractual terms, but sometimes they also are simultaneously regulated by statute. This results in a legal battle among the freedom of contract, public policy and statutory authority—and often leads to a big legal black hole.

Don't Be a Victim of Fraud: New Resource Verifies Sureties and Bonds

A number of cases have occurred in which federal Miller Act performance and payment bonds issued by unscrupulous individual sureties were found to be false, and the assets to secure the bonds were insufficient or nonexistent. In many such cases, the subcontractors and suppliers that the surety bond was supposed to protect were left with no remedy for nonpayment.

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Service Above Self
Two years ago, Gary Neal—an engineer and project manager with MEC Contractors...

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