Remove Agreement Remove Claims Remove Contractors Remove Liability
article thumbnail

What Contractors Need to Know About Surety Bonds

Construction Marketing

If you want to be a contractor, being licensed and bonded will have a major impact on your ability to work in the city and state where you live and work. Many state and local governments require that contractors who perform work above a threshold amount obtain licenses. What Are Surety Bonds? Bond Types.

article thumbnail

#116:  Termination as a Condition of Performance Bond Liability

NH Construction Law

This can put the obligee, whether an owner holding its general contractor’s performance bond or a general contractor holding its subcontractor’s performance bond, in a difficult spot. In Arch Insurance Co. Graphic Builders LLC , 36 F.4th 4th 12 (1st Cir. ” Id. ” Id. million,” id.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

What Is a Certificate of Insurance (COI) for Contractors — and When Do You Need One?

Levelset

To help your business remain viable, contractor’s insurance should be a crucial part of your financial strategy. Insurance also puts other parties’ minds at ease when they want to hire you as a specialty contractor. If you’re bidding on contract work, you will likely need a COI per terms of a legal agreement.

article thumbnail

Contractor License Bonds: Everything You Need to Know

Levelset

In order to perform construction work, many states require contractors to be “licensed and bonded.” 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. Learn more: The complete guide to contractor licensing state-by-state.

article thumbnail

#95:  Are Miller Act Claims Arbitrable?

NH Construction Law

Because venue provisions can be waived, courts allow Miller Act claims to be litigated in a different court selected by the parties’ contract. B & D Mechanical Contractors, Inc. The Federal Arbitration Act instructs federal courts to enforce arbitration agreements according to their terms. Industrial Lumber Co. ,

Claims 40
article thumbnail

Recent Decision Highlights the Potential Pitfalls in General Releases

Federal Construction Contracting Blog

the Court of Federal Claims reminds contractors to read claim release language carefully before executing any agreement or modification. Claims under TOs 22 and 25 were the subject of a contracting officer’s final decision, the denials of which T.H.R. brought suit in the Court of Federal Claims on the TO 26 claim.

article thumbnail

Does GC Insurance Cover Subcontractors?

Levelset

General contractors know these risks when they take the role. But what if the general contractor isn’t at fault, and a subcontractor is to blame? Does a general contractor’s insurance cover their subcontractors’ accidents or mistakes? The car owner can’t go after a different contractor’s insurer for the damage.