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What Contractors Need to Know About Surety Bonds

Construction Marketing

If the principal’s bond application is approved, the surety company will require the principal to sign an indemnity agreement before it will issue the bond. The indemnity agreement provides that the principal will hold the surety harmless if a claim is filed against the bond. Sign the indemnity agreement.

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CBCA Offers Potential Insight Into How Board Will Handle Claims Related to COVID-19

Constructlaw

Department of State , 1 the Board rejected a contractor’s claim for additional costs related to demobilization and remobilization of the job site in Freetown, Sierra Leone, due to an Ebola virus outbreak. Department of Homeland Security , CBCA 3438, 15-1 B.C.A. In Pernix Serka Joint Venture v. 1 CBCA 5683, 2020 WL 1970843 (C.B.C.A.

Claims 52
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#122:  Construction Loan Disbursement Pitfalls

NH Construction Law

Banks insist on this as a way to ensure that the mortgages securing their construction loans are supported by enough value on the ground to collateralize repayment. If the Seymour case shuts out a claim against the bank, do owner/borrowers have a legal claim against the inspector, with whom they have no contract?

Banking 40
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Texas Homestead Lien Rules & Requirements

Levelset

However, if the project is on a homestead property, the Lone Star State has additional requirements to secure lien rights. Here’s everything you need to know about homestead projects — and how to securing lien rights on a homestead in Texas. What is a homestead? General contractor requirements. Prime contract requirements.

Lien 52
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Haven’t Been Paid? Preserve Your Rights Under the Miller Act

Federal Construction Contracting Blog

However, when the parties cannot reach an agreement, the subcontractor faces financial turmoil. On a private project, a subcontractor may file a mechanic’s lien to secure its right to payment. Instead, the subcontractor must pursue its claims via the Miller Act. However, the right to make such a claim does not last forever.

Claims 52
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Should Design Professionals Be Guarantors of Code-Compliant Design?

Construction Dive

By Bruce Jervis Architectural and engineering service agreements commonly call for the design professional to deliver design documents that comply with all applicable building codes. Is this something different from or more than the customary duty to exercise professional due care? It is a question few pause to ask.

Design 52
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#128:  Waivers of Subrogation

NH Construction Law

Subrogation – the right of an insurer, upon paying an injured party’s damages arising out of a negligence claim, to chase the negligent party for reimbursement – is a staple of the law. ’” Security Fence Co. ” Chase v. . Association , 101 N.H. 190, 192 (1957) (quotation omitted).