Pursuing Business With ‘Risky’ Accounts

Prevailing business wisdom holds that the way to reduce credit risk is to limit credit lines, be stingy in allowing credit and freeze orders on past due accounts. This line of thought posits that it is generally impossible to lower “bad debt” losses without adverse consequences to sales and business expansion. Read The Full Story »

Dispute ResolutionMore Like This

Nobody likes a lawsuit, but the construction field is full of them. Lawsuits are expensive, time-consuming and stressful, and all too often they don’t work out the way we want them to. A good lawyer can certainly make the process much easier, but wouldn’t you rather avoid the lawsuit in the first place? Continue »

GC Liability InsuranceMore Like This

The Occupational Safety and Health Administration (OSHA) issued a proposed rule to update its standard on Accident Prevention Signs and Tags in construction (29 CFR 1926.200), which requires that signs and symbols be visible at all times to warn workers of existing hazards when work is being performed. The proposed rule updates the American National Standards Institute consensus standards referenced in Sec. 1926.200, and proposes technical amendments and corrections to OSHA’s Cranes and Derricks standards (29 CFR part 1926, subpart CC). Continue »

Risk ManagementMore Like This

The recent approval of the National Defense Authorization Act of 2013 included an important provision that allows the U.S. Small Business Administration (SBA) to triple the support (from $2 million to $6.5 million) it can provide to sureties for a single job. In addition, the SBA can increase the guarantee for federal contracts to $10 million, provided that a federal contracting officer certifies its necessity. These increases are significant and have long been needed. Continue »

Surety BondingMore Like This

A major revision to the U.S. Small Business Administration’s (SBA) Surety Bond Guarantee (SBG) Program more than triples the eligible contract amount–from $2 million to $6.5 million–the agency will guarantee on surety bonds for public and private contracts. The higher surety bond guarantee limits are expected to help construction and service sector small businesses gain greater access to private and public contracts, as well as secure larger contracts vital to small business growth. Continue »

Each year, the Merchants Bonding Company™Leaderboard Program salutes agency partners who have demonstrated their surety savvy and collaboration for growth. We salute Surety Bond Brokers of Louisiana Inc. of Baton Rouge, Louisiana for attaining the Champions Tour of surety professionals. Congratulations to Cathy Turner for surety professionalism in 2012. Merchants Bonding has partnered with Surety Bond Brokers of Louisiana Inc. for 20 years. We thank them for the successes we’ve had together and recognize them for sharing our common sense vision. See our online salute to Surety Bond Brokers of Louisiana Inc. of Baton Rouge, Louisiana, here. Continue »

Construction Executive’s annual Insurance and Surety Bonding update is coming in April. Top industry experts provide the latest news and trends in risk management, insurance and surety bonding in the print and digital editions. Find out about professional liability insurance options; how to increase a surety bond limit; choosing an agent or broker; prevailing wage and fringe options; and where pricing and availability is headed during the next year. Continue »