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What Contractors Need to Know About Surety Bonds

Construction Marketing

Surety bonds are financial guarantees that are issued to ensure the individual or company who obtains the bond will perform work in a legally compliant manner and will avoid fraud and misconduct. Surety – The bonding company that guarantees the principal’s ethical operations and legal compliance by issuing the bond.

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The 12 Best Construction Podcasts of 2020

Construction Junkie

Former winners CONEXPO-CON/AGG Radio, The ConTechCrew, and The Lien Zone were back and all had strong showings in the voting round. Check out our full review of The Lien Zone by clicking or tapping here. #7: It was a very exciting competition this year, with a few records broken along the way.

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Place Your Vote for the Best Construction Podcast of 2020

Construction Junkie

Former winners CONEXPO-CON/AGG Radio, The ConTechCrew, and The Lien Zone are back, as well as a many other podcasts that are new to the competition. vote for the lien zone. vote for the lien zone. The Lien Zone Podcast. This year we have several familiar faces, as well many new podcasts. Vote for conexpo/con-agg radio.

Lien 116
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Transforming Construction Payments: Autodesk's Strategic Move with Payapps Acquisition 

Autodesk Construction Cloud

The inherent business-breaking risk can even lead many subcontractors to refrain from bidding on projects if a general contractor or an owner has a reputation for slow payments. Furthermore, subcontractors can face an excruciatingly long waiting period ( 83 days on average) to receive payments after completing their work.

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Digital Builder Podcast Ep 22: How Specialty Contractors Can Navigate Contracts & Get Paid On Time

Autodesk Construction Cloud

A mechanic’s lien works the same way,” says Karalynn. “If Even if you don’t want to negotiate, Karalynn says it’s worth having an attorney or legal professional break down what the contract means. ” Do an itemized bid. Always do an itemized bid, advises Karalynn. Here are Karalynn’s top recommendations.

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Successful Commercial Construction Strategies and Operations: Tip #2

HardHatChat

For example, if your general contractor falls behind on paying their sub contractors, or they don’t pay them at all, then those subs have lien rights that you as the developer or your tenant will have to pay the sub contractor or defend your rights as a property owner.

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Subcontractor Default Insurance: Pros & Cons for General Contractors

Levelset

In addition, SubGuard does not provide protection against mechanics liens from unpaid second-tier subs and suppliers. Include X amount of additional profit in your bid.”. On-demand legal help you can afford. SDI is offered as an alternative to performance bonds. That’s how it’s marketed,” Moffett says. Learn more.