Sub’s Lawsuit Alleges Nonpayment By Contractors, Sureties For South Carolina Airport Work

Joshua EtemadiBonds, Construction, News

A mechanical contractor is suing the lead builders and their bonding agencies for almost nonpayment of work performed during the $200 million makeover of Charleston International Airport. Bell Constructors of Rochester, N.Y., claims in its civil lawsuit filed this month in Charleston County the joint venture of Texas-based Austin Commercial and Hitt Contracting of Virginia has not paid nearly $900,000 for labor and materials as part of Bell’s $22.4 million subcontract at the airport. Read the full article >>>

Contractors Seek Way To Meet Hiring Rules Amid Skilled Worker Shortages

Joshua EtemadiBonds, Construction, News

Contractors participating in publicly funded construction projects often run up against conditions they might not otherwise come across in private work. Such requirements can range from payment and performance bonds, to paying prevailing wages or submitting certified payroll forms on a regular basis. While some of those conditions may be easier to comply with than others, few are as contentious as local hiring requirements, or those that ensure a predetermined percentage of the job’s workforce come from within the project’s surrounding area. Tell me more >>>

Construction Bonds, Inc. Named On SBA’s Top Performing Bond Agency List for 2017

Joshua EtemadiBonds, Construction, News

WASHINGTON, Nov. 7, 2017 /PRNewswire-USNewswire/ — The U.S. Small Business Administration announced today its most active surety companies and agencies for fiscal year (FY) 2017, which contributed to increases in the Surety Bond Guarantee (SBG) Program’s activity. “FY2017 yielded impressive numbers that would not have been possible without our top performing surety partners and bond agencies,” said Peter Gibbs, Acting Director for the Office of Surety Guarantees.  “The SBA is very pleased with the results that we have seen, and the tremendous impact made on small businesses by not only contributing to the economy, but also by creating economic opportunities for other Americans.” Read the full Press Release >>>

Insurers Have Growing Role In Helping Contractors Manage Loss Control

Joshua EtemadiBonds, Construction

The high-risk intersection of skill level and safe operations is traditionally a “proceed-with-caution” zone in the construction industry. It presents the greatest peril when owners and contractors are pressed to hire earnest but unskilled workers to bridge the gap between the current workforce and the staffing levels they need to meet demand. Read the full article >>>

Meeting With Surety Agent Among Ways Contractors Can Effectively Manage Growth

Joshua EtemadiBonds, Construction

The U.S. commercial (non-residential) construction market outlook for the remainder of 2017 and through 2018 is expected to grow in the 4% range, according to the AIA Consensus Construction Forecast panel. This is slightly below its previous forecasts of 5-7% entering 2017. There are factors that could add tailwind to growth estimates, which include tax reform, financial deregulation, and a trillion-dollar infrastructure program over the coming decade. Tell me more >>>    

SBA Names CBI In Top 10 Bond Agencies for FY2017

Joshua EtemadiBonds, News

The U.S. Small Business Administration announced its most active surety companies and agencies for fiscal year (FY) 2017, which contributed to increases in the Surety Bond Guarantee (SBG) Program’s activity. Construction Bonds, Inc. (CBI) was named one of the top 10 performing bond agencies for 2017. The standing was determined by the number of bonds written through the SBG Program. The mission of the SBA’s Office of Surety Guarantees is to provide and manage surety bond guarantees for qualified small and emerging businesses. Congratulations CBI! Read the full release here. The U.S. Small Business Administration announced its most active surety companies and agencies for fiscal year (FY) 2017, which contributed to increases in the Surety Bond Guarantee (SBG) Program’s activity. …

Work With Urgency, Without Losing Quality

Denise GillinConstruction, News

As a small business owner or independent contractor, learning to manage your time effectively without compromising the quality of your services can be a difficult skill to master. However, it’s a function that must be prioritized to maintain efficiency in your business. As you know, inaccurately estimating the amount of time and resources a task requires, can throw off the rest of the day’s priorities. This can result in poor work and cost the business money, clients and invaluable time. Tell me more >>>