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What Contractors Need to Know About Surety Bonds

Construction Marketing

Surety bonds are financial guarantees that are issued to ensure the individual or company who obtains the bond will perform work in a legally compliant manner and will avoid fraud and misconduct. Surety – The bonding company that guarantees the principal’s ethical operations and legal compliance by issuing the bond.

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How to File a Lawsuit After an Injury At a Construction Site?

Construction Marketing

You may wonder if you have legal recourse if you have been injured while working at a construction site. Damage recovery If your claim is successful, you may be entitled to recover damages for your injuries. Not getting a written fee agreement from the lawyer you hire. Failing to interview several lawyers before hiring one.

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Not Just An Old Wives’ Tale: Negotiating “Paid In Full” Check Binds Contractor

Best Practices Construction Law

But I have never really thought about that legal principle because, “People don’t really do that, do they?”. the Court of Appeals of Mississippi held that the PAID IN FULL principle—or what lawyers know as accord and satisfaction —barred a contractor’s claim for additional payment. In Triangle Construction Co. Fouches and Assoc.,

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Not So Severable After All: Third Circuit Lets Courts Determine Arbitration Agreement Existence When Underlying Contract’s Validity Is Challenged

Constructlaw

Court of Appeals for the Third Circuit addressed the perennially thorny issue of whether the courts or arbitrators retain the authority to resolve questions involving the enforceability of arbitration agreements. After the project began, a labor union representative approached and asked MZM’s president to execute a “short-form agreement.”

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What Is Inefficient Risk Transfer? The Use of Indemnification in Construction Contracts

Best Practices Construction Law

In construction, there should be a written contract to transfer the risk when you are stuck between a rock and a hard place. Perhaps “inefficient risk transfer” (alluded to by the authors) comes when parties try to transfer risk opposite or beyond what the law addresses.

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Assignment of Benefits for Contractors: Pros & Cons of Accepting an AOB

Levelset

When a property owner files an insurance claim to cover a restoration or roofing project, the owner typically deals directly with the insurance company. An assignment of benefits , or AOB, is an agreement to transfer insurance claim rights to a third party. AOBs take the homeowner out of the claims equation.

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“Paid in Full” Wives’ Tale True? When Endorsing A Check, Yes Ma’am!

Best Practices Construction Law

But I had never really thought about that legal principle because, “People don’t really do that, do they?” the Court of Appeals of Mississippi recently held that the PAID IN FULL principle—or what lawyers know as accord and satisfaction —barred a contractor’s claim for additional payment. Fouches and Assoc.,

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