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Removing the Mystery from Indemnity Agreements

Construction Business Owner

The indemnity provision protects an owner or general contractor from exposure to liability if a loss occurs during construction. But if they're not structured properly, you could be at risk. Read all you need to know here. . .

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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.

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#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.

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Service Agreements Can Improve Contractors Cash Flow And Profits

Contractor Bookkeeping

Why Sell Service Agreements? Service agreement holders are more likely to be clients that add more value to your construction company because they represent the most loyal segment of your customer base. Every service agreement customer represents a future work. Every service agreement customer represents a future work.

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Construction Law: April 2024

Construction Law

CL guides Limitation on liability Our latest Construction Law Guides series article from Claire Turnbull of DLA Piper looks at limitations on liability. Limitation clauses are interpreted strictly, so clear and unambiguous language should be used where a party seeks to limit liability for losses that would otherwise be recoverable.

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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.

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#91:  Liability Insurance for a Subcontractor's Defective Work

NH Construction Law

“May unintentionally faulty subcontractor work that damages an insured’s work product constitute an ‘accident’ under a commercial general liability insurance policy?” Mechanical Contractors, Inc. 2020 WL 3527909 (June 29, 2020). 2d 871, 880 (Fla. ”); Lamar Homes, Inc. Mid-Continent Casualty Co. ,