CBI Particpates in Public-Private-Partnership 101 Workshop

Denise Gillin Uncategorized

Construction Bonds, Inc. joined the Prince George’s County public shool for the “Public-Private-Partnership” (P3) 101 Workshop to learn more about upcoming school projects. The workshop covered valuable information including: What is a P3 project? How does it differ from traditional PGCPS projects? How to maximize WBE / MBE contracting opportunities. What is the PGCPS’ P3 process and time for WBE …

The Over and Under of Contractor Billings

Denise Gillin Uncategorized

Large overbillings or underbillings can be an indication of problems that could jeopardize the stability of a contractor’s bond program. Generally Accepted Accounting Principals (GAAP) state that to be accurate, the best way for a contractor to report earnings is most often on the Percentage of Completion (POC) method of accounting. This method ties together what the contractor actually earned, …

CBI At US DOT Bonding Education Program

Denise Gillin Uncategorized

Great turnout for the US Department of Transportation Bonding Education Program in partnership with The NC Institute of Minority Economic Development and FAM Construction, LLC at Fairfax, VA. This three-day program was filled with great information on how to obtain and increase bonding. One firm came to learn about the process and left with the potential to obtain over $1 …

Avoid Cost Overruns With Work In Progress Reports

Denise Gillin Uncategorized

Cost overruns are a common occurrence in the construction industry. It’s far too easy at the mid-point of any project to misjudge billing against the actual status of the project. That’s where the Work in Progress (WIP) report comes in. The work in progress (WIP) report or WIP schedule is one of the most important reporting mechanisms in the construction …

Construction Bonds, Inc. Participated in “Building Blocks for Business Success”

Denise Gillin Uncategorized

Construction Bonds, Inc. (CBI) was a participant at the Hampton Roads Annual Grow Sales Small Business Conference, Hampton, VA, last week. The half-day conference of workshops was focused on the basic elements of government contracting, the procurement process, marketing strategies, financing management, access to capital and other great topics to provide business owners guidance to take their businesses to the …

Bridge maintenance contractor sentenced to 18 months…

Denise Gillin Uncategorized

When the federal government funds a project, that gives it the right to step in and protect its interests. In another case also involving concrete, the DOJ settled a civil lawsuit against Pennsylvania-based Universal Concrete Products Corp. and its co-owner and president back in January amid allegations that the company falsified test records for concrete panels furnished during construction of …

Are You Ready for a Hard Market?

Denise Gillin Uncategorized

Planning When You Don’t Need It Will Save You When You Do By: Kirk Rathjen, Regional Vice President, Contract Underwriting, Merchants Bonding Company Construction and surety have grown strongly over the past ten years with plenty of capacity, keeping the market soft, but it is always cyclical, so it’s just a matter of time before we start leaning toward a …

#BuildingRelationships

Denise Gillin Uncategorized

Construction Bonds, Inc. is a proud member of the Metro DC Hispanic Contractractors Association. We participated at the Sprint Tech Center, Reston, program where F.H. Paschen team members educated the crowd about their subcontracting process and the many different opportunities available. We enjoy getting out and learning more about our fellow subcontractors, but more importantly we get a chance to …