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By Jeremiah M. Welch Boston’s recent decision to temporarily shut down city construction projects has many in the industry asking what impact, if any, a COVID-19 related shutdown would have on project insurance. For this article, the focus is not on the question of whether there is coverage for damages or liabilities because of COVID-19; there are many other articles ...

By David Robbins In this unprecedented time of global pandemic, government contractors, and industries supporting them have spent substantial effort understanding contract terms like force majeure, excusable delay, changes, and Defense Production Act rated orders. The surety industry is also rapidly learning these terms and clauses and how they apply to Miller Act bonds issued for federal construction contracts. The Miller ...

ISTOCK/HAZEMMKAMAL By Levi W. Barrett, Steven M. Charney, Warren E. Friedman, and Christopher B. Kinzel The Coronavirus has been the subject of an extraordinary amount of media coverage since the start of 2020. As we approach the end of the first quarter of the year, its impact on local and global economies and our way of life cannot be ignored. ...

PanchenkoVladimir/Shutterstock.com What faces our industry is a period of great opportunity balanced with some real concerns. In the recent Associated General Contractors of America labor results, each state varies with construction labor growth, but, overall, most are troubled by the decline in available, qualified labor in the construction industry. Most construction organizations can attest to that. The work programs have ...

Ktasimar/Shutterstock.com By Toby Miclette I heard a story recently about a public owner in the state of Texas using a security bond in an attempt to force a general contractor (GC) into executing a guaranteed maximum price (GMP) contract amendment at a price no greater than the Initial GMP (IGMP), even though there had been scope changes subsequent to establishing ...

By Martha Perkins Surety bonds guarantee capital, of course; but they also bring with them the expertise of the surety and reputational benefits to the contractors and construction projects that use them. But contractors who benefit from surety bonds should keep in mind they are subject to indemnity agreements that will bite if they fail to fulfill their end of the ...

By Eugene Polyak Changes in the work are common on construction projects. But not all changes are handled in strict accordance with the contract’s changes clause. For contractors, it is essential to be paid for the extra work caused by changes. This can become a problem if the change has not been expressly authorized by the owner or the owner’s ...

By Cara Benningfield The Tax Cuts and Jobs Act (TCJA) was signed into law on December 22, 2017. The employee stock ownership plan (ESOP) community had been closely watching the tax reform process for any potential effects on ESOP-owned companies. This article will highlight some of the significant provisions included in the final law that will affect these companies. S Corporation ...

Federal government contractors, especially those who do business with the Department of Defense (DoD), should expect cybersecurity to continue to be an area of great concern to the federal government. On November 4, 2010, President Obama issued Executive Order 13556, Controlled Unclassified Information. The purpose of the executive order was to establish a uniform program for the federal executive agencies ...

By Kathy Hoffman On Dec. 5, 2017, Bill 142 passed unanimously in the Ontario Legislature, requiring public construction work to be protected by performance and payment bonds. The bill, which was fully supported by the Surety Association of Canada and other industry stakeholders, serves to modernize payment protocols in Ontario’s Construction Lien Act. “We’ve just been successful in introducing mandatory ...