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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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Contractor License Bonds: Everything You Need to Know

Levelset

Well, every state sets its own rules for contractor licensing, and contractors often must purchase a surety bond in order to legally practice their trade. In the event of a valid claim against the license bond, the principal must reimburse the surety company for any payouts. Note: These scenarios don’t always lead to a claim.

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Subtle (and Not So Subtle) Effects of COVID-19 on the Construction Industry

Constructlaw

Video conferences eliminate travel time and permit people to participate who would normally not be able to meet in person, due to distance or other commitments. It is easier to be successful in your claim if it is well-documented. Once over the initial “discomfort” with using virtual platforms such as Zoom, Skype, BlueJeans, etc.,

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International Arbitration Experts Discuss The Impact On The Global Economy

Constructlaw

Reynolds: The COVID-19 pandemic’s impact on the global economy has led to an increase in breach of contract claims, and a parallel rise in novel breach of con­tract defenses focused on excuses for non-performance. According to another, in the United States, there are pre­sently more than 1,250 pandemic insurance litigations.

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10 Essential Types of Construction Documents

Autodesk Construction Cloud

Construction documents have several purposes, including covering daily information, keeping track of a project and documenting changes, inventory tracking, permit applications, and others. Certificates of insurance. Insurance . Claims processing. Some common kinds of construction documents include: Bidding documents.

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Green Building Data Risk as an Opportunity

Green Building Law Update

There are a panoply of federal laws within discreet silos, including significantly: The Health Insurance Portability and Accountability Act (HIPAA), The Family Educational Rights and Privacy Act (FERPA), the Fair and Accurate Credit Transaction Act (FACTA), and the like. A claim pending against a major U.S.

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GIVEAWAY #5: AUTODESK SWAG PACK

Construction Junkie

ELIGIBILITY: This contest (“Contest”) is open to legal residents of the fifty (50) United States and the District of Columbia who are at least 18 years or older at the time of entry. No transfer, substitution or cash alternative permitted, except by Construction Junkie, LLC in its sole discretion.