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Home » Topic » Business » Business Risk

Protect Construction Finances by Controlling Occupational Fraud

by Matthew J. Boland | Apr 1, 2021
Business | Business Development | Business Risk | Human Resources

Establish protection and detection policies to limit exposure and losses by having zero tolerance for fraud. Swindlers will be more hesitant to commit fraud if they are being watched and sufficient controls are in place.

Sharing Fault: Architects and Contractors on the Line

by Patrick Barthet | Feb 4, 2021
Business | Business Development | Business Risk

In a number of jurisdictions, an architect can be held liable to a contractor if that contractor is damaged by the architect’s negligence. This is true even if the contractor and architect have no contractual relationship.

Contractors on Private Projects Also Need Bonding

by Martin C. McCarthy | Jan 14, 2021
Business | Business Risk | Project Delivery | Risk | Risk Management | Surety Bonding

Surety bonds can protect private construction project owners from contractor default, but general contractors should consider them as protection against subcontractor default.

A Solid Foundation: The Importance of Business Structure and Stability During Times of Uncertainty

by John Burns | Sep 22, 2020
Business | Business Risk | Risk | Risk Management

An operating or shareholder agreement is essential in the event of business interruption, departure and dissolution, or death. Not having one can result devasting wake of destructive litigation.

Don’t Be a Casualty of the COVID-19 Recession

by Nate Budde | Jun 3, 2020
Business | Business Development | Business Risk | Economy | Finance | Risk | Risk Management

Understanding cash needs, making cuts for efficiency, focusing on the best projects and protecting lien and bond claim rights can help contractors fend off the recession’s financial risk.

Addressing Cash Flow and Credit Impacts Related to COVID-19

by Robert Mercado, Michelle Johnson | Apr 22, 2020
Business | Business Risk | Finance | Risk | Safety | Surety Bonding | Wellness

Financial planning and projections will ensure a contractor’s compliance with banking requirements, maximize surety credit, as well as ensure growth and stability for future projects and profits.

Four Qualities Lenders Look for in General Contractors When Assessing Construction Risk

by Scott A. Cameron | Mar 25, 2020
Business | Business Risk | Risk | Risk Management

There are four essential qualities lenders look for in general contractors when assessing risk in construction projects: document accuracy, responsiveness to questions, honesty and focus on area of expertise.

Coronavirus and the Construction Industry: How to Handle an Inevitable Delay

by J.P. Vogel, Vernon Howerton | Mar 10, 2020
Business | Business Risk | Contracts | Economy | Legal and Regulatory | Manufacturing | Markets | Risk | Risk Management

COVID-19 may affect construction materials and labor. Now’s the time to check contract language and supplier agreements for force majeure clauses, and develop a plan in the event of a labor shortage.
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