Risk

The 4th “C” of Bonding: What It All Means to Surety Agents

by | Apr 13, 2020
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There is a little-known rule that prohibits writing about bonding without mentioning the three “Cs”: capital, capacity and character—but there is a fourth “C” that may be even more important when sureties review contractors’ financial statements. In order to understand the mysterious surety world, contractors need to know the fourth “C.”

The Construction Surety Industry: Looking Ahead

by | Apr 10, 2020
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According to data published by Aon Insurance, surety division, total construction industry surety losses in 2019 were fairly favorable at fewer than 20%. Initially, this trend was expected to continue into 2020, subject to any financial issues related to megaprojects currently in place. But the impact of COVID-19 has increased surety exposure to a much higher level, similar to other credit programs.

Hurry Up and Wait: Pacing and Concurrent Delay in Schedule Disputes

by | Apr 10, 2020
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When critical path activities are delayed by the owner (or another party), contractors will sometimes “pace,” or slow down, other activities to match the owner-caused delay. What should contractors do to preserve their rights to obtain more than a simple time extension?

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