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What Contractors Need to Know About Surety Bonds

Construction Marketing

The indemnity agreement provides that the principal will hold the surety harmless if a claim is filed against the bond. As an alternative to surety bonds, some licensing agencies allow contractors to put up the entire bond amount as security. The bonding process for getting a surety bond involves the following six steps: 1.

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No Free Warranty: Connecticut Court Adopts Correction or Repair Test

Constructlaw

a Connecticut court considered for the first time whether the performance of warranty work tolls the statute of limitations on payment bond claims. s (ALS’s) bond claim because ALS admitted that it last performed non-warranty work on the project more than one year before filing suit, meaning the statute of limitations barred its claim.

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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. Examples of such cases include. (2)

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Happy New Year From DoD – The Proposed CMMC Rule Is Here

Federal Construction Contracting Blog

Following growing concerns within DoD that contractors were not consistently implementing the cybersecurity requirements of DFARS 252.204-2012, DoD responded with the creation of the CMMC Program in 2019 to move away from a “self-attestation” model of security. POA&Ms under Level 1 are not permitted.

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Construction Site Theft: Impact and Prevention

Levelset

Materials, insurances, permits, payroll, and other typical costs are relatively simple to account for. Insurance claims. Filing insurance claims for a construction site theft can increase the contractor’s premium, meaning they’ll have to pay more for coverage moving forward. Secure the site. Schedule delays. Eventually.

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What are Preliminaries in Construction Contracts?

Lets Build

Even though the owner might state which items qualify as prelims, it’s the contractor’s responsibility to claim the amounts for each of those items—they’re in the best position to estimate preliminary costs. Site security. What are prelims? For example: Provisional sums. A general allowance for risk. The costs of design work.

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GIVEAWAY #5: AUTODESK SWAG PACK

Construction Junkie

By entering any contest, entrants agree to waive any and all claims against Contest Entities for personal injury, damage or loss of any kind which may result from participation in the Contest or from the receipt, enjoyment, ownership or use of any prize. Limit: One Prize per person/family/household.