Uniformity in Florida’s Construction Bond Laws Brings About Fairness for the Industry
More consistency among Florida laws should benefit contractors, as well as lower-tiered subcontractors and suppliers.
Surety Bonding
General Indemnity Agreements: Can the “Impenetrable” Be Breached?
General contractors should be aware of obligations under the general indemnity agreement when making a claim on a surety bond, and acknowledge their obligation to repay the surety.
Know Your Payment Bond
If a claimant does not comply with the exact language of the payment bond, the surety company can deny the claim. Know time limitations for filing claims.
What Contractors Can Do During the COVID-19 Pandemic: A Bonding Agent’s Recommendations
Now is the time to rely on trusted advisors. Bonding agents recommend contractors review contracts, bonding and insurance need; communicate; stay liquid if possible; and stay calm.
Construction Technology and Software Rundown: April 24, 2020
Here's a rundown of the latest in construction technology and software.
Addressing Cash Flow and Credit Impacts Related to COVID-19
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.
Comprehending and Maximizing Surety Credit
Surety credit is an essential component of the viability of many contractors. Planning for how the contractor’s financial statements will look prior to year-end ensures that contractors will receive maximum surety credit benefits needed to secure both current and future projects.
The 4th “C” of Bonding: What It All Means to Surety Agents
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.”
