The definition of a subcontractor, and why it matters

Denise GillinUncategorized

What is a subcontractor? The answer to this question seems obvious – a subcontractor is a contractor that contracts with the prime contractor to perform a scope of work on a construction project. However, it is not always easy to distinguish a subcontractor from a materials supplier (sometimes referred to as a “materialman”). That distinction is important in the context …

How to win construction bid proposals

Denise GillinUncategorized

Three simple steps to set your company apart from the competition. Everyone thinks the hard work in construction is in the actual building. But in fact, that’s the fun part – it’s what you signed up for when you first got involved in this industry. The real grind happens before a single shovel ever hits the dirt: the construction-bid-proposal process, …

FMI: Despite market growth, contractors should still ‘recession proof’

Denise GillinUncategorized

Sometimes, the longer a good thing lasts, the louder rumblings get that a reality check could be around the corner, and construction industry economics is no exception. However, it’s smart to prepare for a wide variety of economic conditions, and that’s one of the messages in management consulting company FMI Corp.’s 2019 forecast for the engineering and construction sectors. Read …

What can be gleaned from 2018’s highest-profile construction bankruptcies?

Denise GillinUncategorized

Bankruptcy is many contractors’ worst nightmare. For some companies, it’s a public declaration that it was not able to handle its business dealings successfully, and that it can’t pay its bills. In any industry, including construction, maintaining a reputation as solid and trustworthy is critical, and to onlookers, a bankruptcy filing – whether it’s liquidation or reorganization – could very …

Shutdown Affects Some, But Not All Infrastructure Programs

Denise GillinUncategorized

The partial shutdown of the federal government, which is nearing the end of its second week, will have an effect on some federal construction programs – especially those under the Federal Transit Administration – but other major infrastructure accounts, particularly highways, will continue with little change. Tell Me More >>>

CBI Named In SBA Top 10 Performing Bond Agencies

Denise GillinUncategorized

Construction Bonds, Inc. is honored to be listed among the U.S. Small Business Administration’s (SBA) top performing bond agencies for FY2018! The SBA announces its most active surety companies and bond agencies every year. The standing of each agent is determined by the number of bond guarantees they wrote through the Surety Bond Guarantee (SBG) program. The mission of the …

Large-scale Solar Project Proposal in Final Stages

Denise GillinUncategorized

The North Kingstown Planning Commission discussed Tuesday one of the final pieces of a proposed plan for a large-scale solar project: the means and payment for the future decommissioning of the project once it’s reached the end of its lifespan, something that would also need to be reviewed by the bond council before the project can go forward. Back in …

Why Every Small Business Needs an Accountant

Denise GillinUncategorized

Is your business missing out on essential accounting resources that could help it grow? Money – it’s how you measure success in business. It’s also how you pay the bills, pay your employees, and keep your business running. Unfortunately, many small business owners are selling themselves short by operating without essential accounting resources, according to a survey by Clutch. Read …

Georgia Construction Sector May Run Short On Workers

Denise GillinUncategorized

The construction sector in Georgia has done so well it seems to be out-pacing the economy’s ability to fuel its growth. Even while there’s murmuring about a possible recession, industry leaders say they expect the economy to keep expanding, but they have reached the point where more construction spending is testing their ability to do the work. Tell me more …

Don’t Punish Contractors for Government Mistakes

Denise GillinUncategorized

You can see the signs everywhere: cranes in the sky and construction workers on the ground. New York is experiencing a construction boom. Not only are we watching the New York of tomorrow rise up today, but construction work also drives economic activity and growth. Billions of dollars are injected into the local economy through publicly funded projects alone, as …