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Additional Insured Endorsements & How They Work in Construction

Levelset

An insurance policy rarely meets every contractor’s needs out of the box. One of the most common endorsements you’ll likely encounter involves additional insured (AI) parties. While it may sound unusual, adding additional insureds is common and extends benefits both to you as a policyholder – and the party being named on the policy.

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Subcontractor Default Insurance: Pros & Cons for General Contractors

Levelset

Construction is a risky business, with among the highest rates of failure of any industry. While general contractors commonly use performance bonds to reduce the risk of default, a bond ultimately protects the property owner, not the GC. Related: 16 types of insurance coverage for contractors. How SubGuard insurance works.

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Construction Law: April 2024

Construction Law

The government’s own net zero carbon targets are at risk if the speed of delivery of investments isn’t increased. Guest Editors Jane Hughes and Isobel Moorhouse of Trowers & Hamlins LLP say that despite years of industry campaigning the end of retentions is not in sight. Guest editor Retentions – time to say goodbye?

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7 Ways Construction Companies Can Keep Their Workers Safe

Construction Marketing

Despite being one of the leading employment sectors in many countries, the construction industry is one of the most dangerous sectors. Before starting a construction project , you should train workers operating in medium and high-risk areas on safety measures and standards. Have a safety standards terms of the agreement (TOA).

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Common Law Analysis – Pay-if-paid, Pay-when-paid & Liquidating Agreements in Construction Contracts

Construction Law Monitor

Liberty Mutual Insurance Company (“Sloan”), the US Court of Appeals for the Third Circuit has an in depth discussion regarding some technical yet very important clauses found within many construction contracts between general contractor, subcontractors, owner and the surety. Liquidating Agreement. Click here for Daniel S.

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7 Things Contractors Need to Know About Retainage

Fieldwire

Construction is one of the hardest industries to manage cash flow in, with contractors often facing large up-front costs and frequent, long delays between expenses and payment. The industry’s retainage practices throw another wrinkle into the process. But just because retention is commonplace doesn’t mean it’s always used fairly.

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International Arbitration Experts Discuss The Impact On The Global Economy

Constructlaw

Mealey’s International Arbitration Report recently asked industry experts and leaders for their thoughts on what events had an impact on global economy that have led to an increase in filings. Halprin: At the risk of stating the obvious, the pan­demic has had a tremendous impact on filings. [Editor’s Note: Copyright # 2020, LexisNexis.

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