Below you'll find a list of all posts that have been categorized as “Bonds”
As the construction industry has moved toward more collaborative forms of project delivery, many owners have begun engaging outside professionals who are known as owners project managers (OPMs). They assist with overall project planning, coordination and project oversight beyond what is typically performed by the owners’ design professionals. They also serve as a liaison between the owner and project team. Read the full article >>>
Construction companies are hammering out fixes to the labor shortage. Firms are planning to raise pay, implement more training and increase on-the-job safety standards to make construction more attractive to younger workers, according to a recent survey from Teletrac Navman. Tell me more >>>
The Department of Homeland Security awarded four contracts for border wall prototypes, another crucial step in President Donald Trump’s plan to secure the border. Officials of Customs and Border Protection gave contracts to Texas Sterling Construction of Houston, Caddell Construction of Montgomery, Alabama, Fisher Industries of Tempe, Arizona, and W.G. Yates & Sons Construction of Philadelphia. Read the full article >>>
Whether you are a developer, builder, design professional, subcontractor, or supplier, one of the most important aspects of risk management is ensuring both you, and any entities with whom you contract, have good insurance. But, do you really know if you have enough insurance and the types of coverage you need? Ask yourself the following questions and speak to your insurance broker (or find a new one) if you cannot answer them. Tell me more >>>
Hurricane Harvey’s immediate impact on the construction sector will be a disruption in the supply chain for key materials, along with scheduling problems for projects that were under construction. As the cleanup and eventual rebuilding proceed, increased demand for materials and labor will push costs upward and contractors will be scrambling to secure supplies and workers. Read the full article >>>
President Donald Trump’s $1 trillion plan to rebuild America’s infrastructure may be unprecedented in size and ambition, but it mimics a controversial scheme championed by Vice President Mike Pence when he was the governor of Indiana. That’s why Pence is the public face of the Trump initiative, and executives from financial firms that helped privatize Indiana’s toll road are in the White House, busily sculpting Trump’s national plan. Read the whole article >>>
Seventy percent of construction contractors in the United State report having a hard time finding hourly craft workers, and more than 35 percent are having a hard time hiring salaried office and field employees, according to a study released August 29 by the Association of General Contractors of America and Autodesk. Read the full article >>>
Hurricane Harvey caused severe destruction in Texas with its significant winds and historic rainfall. But Harvey may also prove to be a costly lesson for many project owners and contractors. As Texas begins to focus on recovery in the coming weeks, Harvey will further serve as a reminder to all construction industry stakeholders that hurricanes, and other “acts of God”, are risks that must be effectively managed during the pre-construction and construction phases of every project. While it is difficult to effectively avoid the risks attendant to a highly-destructive, low probability event that occurs on short notice, owners and contractors have two primary tools at their disposal to mitigate the effects of such an event: (i) contractual force majeure provisions; …
Immigration has been thrust back into the spotlight. Earlier this month, President Donald Trump lent his vocal support to the RAISE Act written by U.S. Senators Tom Cotton of Arkansas and David Perdue of Georgia. Last week the president reiterated his commitment to building a border wall, even if it meant shutting down our government. Read the full article >>>
The disaster that is Tropical Storm Harvey is still ongoing. It will be some time before the waters recede and the effect on Houston can be fully assessed. But it is already clear the damage to property will be immense. Tens of thousands of structures were impacted by floodwaters. Eventually, Houston will require massive cleanup, demolition, and reconstruction of individual homes, large buildings, and infrastructure. Tell me more >>>
