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

sbabonds Uncategorized 0 Comments

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 …

Contractors Seek Ways To Meet Hiring Rules Amid Skilled Worker Shortages

sbabonds Uncategorized 0 Comments

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 …

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

sbabonds Uncategorized 0 Comments

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 …

Insurers Have Growing Role In Helping Contractors Manage Loss Control

sbabonds Uncategorized 0 Comments

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. Tell me more >>>

Meeting With Surety Agent Among Ways Contractors Can Effectively Manage Growth

sbabonds Uncategorized 0 Comments

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 …

SBA Names CBI In Top 10 Bond Agencies for FY2017

sbabonds Uncategorized 0 Comments

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. …

Surety to Cover Cost Overruns for Delayed Pennsylvania Wastewater Facility

sbabonds Uncategorized 0 Comments

Liberty Mutual has agreed to pay all cost overruns associated with delays in the completion of Clearfield Municipal Authority’s new waste water treatment plant, announced CMA Engineer Jim Balliet of Gwin. Dobson & Foreman. In May 2014 CMA began a $35 million project to construct its waste water treatment plant. But in early 2015, the original contractor, NVP of Jeanette, defaulted …