News and current information for our surety bond clients.
Melissa Watson has suffered through her fair share of sleepless nights, wondering what might happen to her home at the East End Mobile Home Park – soon, she may finally be able to rest easy. Watson has spent more than a year working with her neighbors to save the park that is located along Va. 29 in Manassas. Read the …
A reconstruction project at the Polson Airport has been delayed. The contractor, Bjorn Johnson Construction of Missoula, was unable to find a supplier for the type of asphalt required by the Federal Aviation Administration, project engineer Jeff Walla of KLJ Engineering said at the Polson City Commission’s Nov. 6 meeting. Read the full article >>>
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 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 …
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 …
The people behind the scenes of Palm Beach County’s Ballpark of the Palm Beaches say they’re not getting paid. The $152 million ballpark has become the Florida home to the World Series winning Houston Astros and the Washington Nationals. Read more here >>>
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 >>>
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 …
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. …
Before the devastation of California’s fires and Hurricanes Harvey and Irma, a key segment of the economy, the construction industry, was struggling with a worker shortage. Now the 1-2-3 punch of natural disasters near major metropolitan areas is expected to make building projects even more time consuming and expensive. Tell me more >>>
