News and current information for our surety bond clients.
Although other forms of security are possible to secure performance of a construction contract, corporate surety performance bonds remain the construction contract guarantee of choice for owners in both public and private projects. Read the full article >>>
As President Donald Trump unveils elements of his infrastructure plan this week, Democrats are attacking it as a betrayal of basic government responsibilities. This “privatization,” as they call it, would sell out rural America and allow companies to exploit public assets like roads and bridges. Read more here >>>
A few years ago, I wrote a blog post entitled “The P3 Wars” in which I provided a brief explanation of how a P3 (i.e., a public-private partnership) works, and the general arguments for and against the use of P3s. More recently, President Trump proposed a $1 trillion U.S. infrastructure plan that likely includes the use of P3s. Although no …
The City has partially settled with the previous contractor’s bonding company Old Republic. Old Republic has agreed to cover the additional cost of construction due to changing contractors and the faulty work done by MAG, LLC. This has allowed the city to select a new contractor to finish the project. There are additional costs associated with the default, but the …
One of President Donald Trump’s leading infrastructure advisers has advocated for raising the federal gas tax to generate “tens of billions of dollars” to improve America’s roads, bridges and ports. But the tax increase – an uncharacteristic move for a Republican administration – would likely spark conflict with the GOP, as conservative lawmakers have historically disagreed on whether such a …
County lawmakers approved contracting with the state Department of Environmental Conservation for solid-waste disposal at $300,000, a program that began in 1998 when the county closed its regional landfill in exchange for the annual remittances. “This is the second to last year, but we’ll hopefully get it extended,” County Manager Daniel Palmer said of the payments on Tuesday. Tell me …
A trade group representing the building and highway construction industry is suing the state for allegedly stonewalling its requests for public information regarding contracts awarded to businesses operated by minorities and women, known as MWBEs. A lawsuit filed in state Supreme Court in Albany by the Associated General Contractors claims they have gotten no answers when they sought specifics about …
More details are expected to emerge on President Trump’s infrastructure plan, which the administration outlined broadly in its budget proposal this week. Rep. Sam Graves (R-Mo.), chairman of Transportation and Infrastructure highways and transit subcommittee, told reporters Thursday he “absolutely” expects to hear more guidance from the White House about Trump’s rebuilding package in the coming weeks. Read the full …
While both relatively simple concepts, allowances and contingencies are often confused with one another. Conflating the two can lead to pitfalls. An easy way to remind oneself of the difference is: allowances are for known unknowns, and contingencies are for unknown unknowns. Tell me more >>>
The courthouse roof and masonry project remains on hold while the Johnson County Commission waits for the low bidder to produce a performance bond. The county opened bids March 20. Strata Architecture and Preservation architects checked bidder qualifications, materials, references, schedules and tradesmen. Architects Susan Richards Johnson and Trudy Faulkner told commissioners the $647,700 low bid from All Trades Historical …
