Contractors that enter into design-build contracts can significantly increase their risk by taking on the design responsibilities for a project. Continue »
Bonding Design-Build Contracts: Avoiding “Non-Negligent” Guarantees

Contractors that enter into design-build contracts can significantly increase their risk by taking on the design responsibilities for a project. Continue »
In the early 2000s, contractors felt the pain of another surety cycle as bonding companies incurred historical losses and surety capacity was drastically diminished. Continue »
As sureties and contractors are well aware, the question of whether the surety-principal relationship can—or should—be held to the same standards as the insurer-insured relationship is far from settled. Continue »
For contractors across the U.S., a number of new bonding regulations have been passed in 2017 that deserve consideration. Continue »
For many contractors — whether they perform on construction projects for private companies or local, state or federal agencies — bonding lines can be their lifeblood. Continue »
What’s a surety bond? It’s defined as a three-party agreement binding together a principal who needs the bond, an obligee who requires the bond and a surety company that provides the bond. Continue »
Across much of the United States, construction projects involving medical facilities, renewable energy infrastructure, schools and mixed-use properties are on the rise. Continue »
For the past few years, subcontractors have been experiencing the burden of a serious backlog, shortages in labor and increased costs. These factors create strong pressures on subcontractors and make them more vulnerable to default and other risks. Continue »
Some financial risk is inescapable on every construction project. The generally large number of parties performing work, and the fact that the money on the project must trickle down through many of those parties before others can get paid, results in slow (or sometimes non-existent) payment. Continue »
A payment bond secures a subcontractor’s and a supplier’s right to get paid. If a job is bonded, payment is secured generally by the bond and not by the property. Continue »
Stan Halliday from Travelers Bond & Specialty Products answered questions about Expedited Dispute Resolution (EDR) bonds and what the construction industry needs to know about them. Continue »
At a time when local, state and federal government budgets are under mounting pressure, allocating the resources to refurbish America’s aging infrastructure – the roads, bridges, railways, airports, water systems, pipelines and other components upon which our economy depends – is an increasingly difficult challenge. Continue »