Subcontractor Default Insurance: Pros & Cons for General Contractors
Levelset
APRIL 28, 2022
Construction is a risky business, with among the highest rates of failure of any industry. While general contractors commonly use performance bonds to reduce the risk of default, a bond ultimately protects the property owner, not the GC. ABC has a $750,000 deductible on the SDI policy, so the total claim payout is $450,000 ($1.2
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