Tag: Construction Bonds

Another Risk Management Tool for Private Owners in a Volatile Construction Market

Traditionally, private owners of construction projects have not considered bonds — either payment or performance bonds by the general contractor — because of the additional cost and because they felt confident that the contractors and their subcontractors, suppliers and vendors on their projects would meet the obligations of the contract terms. However, in today’s volatile … Continue Reading

Three Tips for Owners and Contractors to Improve Their Odds of Success in 2021

While all of us begin 2021 still confronting the challenge of COVID-19, construction project owners face particular pandemic-related issues in their industry, including the need to maintain strict best practices for projects and manage scheduling and labor challenges for existing and new projects. In my latest article for the Daily Journal of Commerce, I provide … Continue Reading

Five Questions an Owner Should Ask About Insurance and Bonds

Contractors often have limited liquid assets, so insurance and bonding are often the best resources available to an owner to protect against contractor default or defective work. However, not all policies and bonds are created equal, and owners should make sure these resources provide the security the owner needs. In my recent article for the … Continue Reading
LexBlog