Here’s what surety professionals and their contractors should know
When it comes to federal government contracting, compliance can be the last item that construction contractors want to address. It can be burdensome and time-consuming, and every dollar amount that a contractor devotes to compliance cuts into a contractor’s bottom line. Despite the arduous nature of compliance, however, the risks and consequences of not complying with contractual requirements far outweigh the burdens encountered and the costs of compliance. These risks, consequences, and costs are particularly outweighed when compared to the relatively straightforward compliance requirements that contractors often fail to satisfy.