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The Preconstruction Phase: Understanding the Process & Risks

Levelset

Deep dive – Scope of Work: 6 Things Every Construction Agreement Should Include. Architects generally refer to preconstruction simply as “design,” and break the process down into five steps: Schematic design Design development Construction documents Bidding/procurement Construction administration. Construction documents.

Risk 52
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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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constructionattorneyblog: illinois supplier denied mechanics lien

Construction Lawyer

His book, Legal Guide to AIA Documents, published by Aspen Publishing, is in its fifth edition. You are not our client and we are not your attorneys unless and until you enter into a written retainer agreement with us. In other words, you use the stuff we post here at your own risk. illinois supplier denied mechanics lien.

Lien 40
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#122:  Construction Loan Disbursement Pitfalls

NH Construction Law

Except in the rare case where the contractor has agreed to abide by the bank inspector’s assessment of amounts earned, this puts the owner at risk of having the contractor suspend or even abandon work if the amount of the underpayment is substantial. Residential owners are usually on the short end here. Very round.

Banking 40
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Does GC Insurance Cover Subcontractors?

Levelset

General contractors know these risks when they take the role. At their core, insurance policies are agreements between two parties: the insurer and the policyholder. However, with the amount of risk involved in a standard construction project, general contractors typically need to hold multiple policies.

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A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered?

Levelset

Knowing what to expect from insurers gives you some leverage as a contractor, and can help you protect your business against financial risk on restoration projects. Here are a few things to focus on when you sit down and read the entire policy document from beginning to end. Insuring agreement.

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A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered?

Levelset

Knowing what to expect from insurers gives you some leverage as a contractor, and can help you protect your business against financial risk on restoration projects. . Here are a few things to focus on when you sit down and read the entire policy document from beginning to end. Insuring agreement.