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ISTOCK.COM/DALIU NASBP’s presidents gain a unique perspective on both the challenges that the surety industry is facing and the opportunities that are available as they rise through the chairs of the executive committee and then serve a year as the top volunteer leader. Several past presidents shared their reflections on what has changed in the surety industry over the past ...

ISTOCK.COM/STILLFX By Carl Oliveri of Grassi In the high-stakes construction world, a surety must have a deep understanding and real-time knowledge of the trends and issues the industry is grappling with and how those issues impact the contractor base you may be underwriting. While I hate to make a poker analogy, it is hard not to, especially when the surety’s ...

ISTOCK/COM/IRYNA DROZD By Julian Xavier of CliftonLarsonAllen LLP claconnect.com Construction has had strong results in general over the past few years, and many contractors continue to maintain strong backlog positions even now. However, with the current uncertainty around inflation, interest rates, and labor shortages, it is timely to take a closer look at construction accounting practices to ensure a company ...

ISTOCK.COM/LOVELYDAY12 By Michael A. Marra of The American Arbitration Association Over the past decade, the field of construction dispute avoidance and resolution, particularly arbitration, has evolved significantly in response to the complexities of global construction projects and advances in technology. The American Arbitration Association (AAA), the leader in construction dispute resolution, understands the evolution reflects a broader shift towards more ...

ISTOCK/FERMATE By Judge Chad Allred (Ret.) of JAMS Fantastic news! The deal has come together—for construction of the steel bridge or for placement of the exterior panels on the downtown high-rise or for the dirt work at the site of the new energy plant. All the hard work, planning, bidding, and negotiation have reached a culmination! Well, not quite. There’s ...

TREETY By Cavan S. Boyle of Ernstrom & Dreste LLP Fundamental to all litigation is the disclosure of information through the discovery process. So, too, is the mastery of strategies for protection of privileged material from such disclosure. In the surety context, certain privilege claims are common. For example, where the surety and principal work together against an obligee to ...

VENCAVOLRAB By Marty McCarthy of Marcum LLP According to the Department of Energy, the tax incentives within section 179D primarily benefit property owners and tenants that make construction expenditures. If you haven’t revisited them lately, it’s important to note that they were greatly enhanced by the Inflation Reduction Act. Let’s take a closer look at the details of the new legislation, and ...

NUTHAWUT SOMSUK By John Mark Goodman of Bradley Arant Boult Cummings LLP A Colorado federal court will allow a contractor to prove up more than $250 million in damages using the modified total cost method (see AECOM Technical Services v. Flatiron AECOM, LLC, Case No. 19-CV-2811, 2024 WL 22640 (D. Co. Jan. 2, 2024)). The AECOM v. Flatiron case involves a Colorado DOT project to add ...

ILKERCELIK By Lauren Brier and Annie B. Hudgins of PilieroMazza On December 20, 2023, the Armed Services Board of Contract Appeals (the Board) denied the government’s motion to dismiss pandemic-related claims. In doing so, the Board rejected the government’s arguments, alleging that the claims (1) failed to state a claim upon which relief can be granted; (2) were barred by ...

ISTOCK.COM/Владимир Мелентьев By Ronald J. Eagar of Grassi As our world becomes increasingly focused on environmental, social, and governance (ESG) issues, many businesses are turning to electric vehicles (EVs) to help reduce their carbon footprint and take a step forward into the more electrified world of tomorrow. In turn, the benefits they receive range from lower operational costs to higher ...