Construction failures, if not too tragic in their nature, can cause a certain amusement in some quarters. It certainly does seem inexplicable how projects costing millions of dollars can omit a small detail that can potentially ruin everything. Buildings are usually in the planning process for years and undergo various evaluations and analyses. Many experts read more »
Hurricane Sandy is estimated as one of the most costly hurricanes in US history; leaving hundreds of thousands of homes and businesses severely damaged due to flooding and gale force winds. The sad reality is that deceitful contractors will take advantage of disasters like this to scam the victims. There will no doubt be a read more »
New surety legislation was enacted concerning Minnesota plumbers. The new law is named SB 2 and modifies the surety bond requirements for plumbers; the previous legislation required all licensed contractors who perform plumbing work to acquire a $25,000 surety bond. The new law changes the requirement to pertain to all individuals who perform plumbing in read more »
The world of surety seems to be doing just fine amidst the down economy. There are still a lot of construction jobs available and many bonds to be written; but could the healthy appearance of the surety industry be somewhat of an illusion?
Many contractors that were planning on starting an LLC (Limited Liability Company) in California found that they were legally unable; but a new bill has changed that. Legislators put a new law in to place allowing contractors to operate as an LLC but in order to do so; they must obtain a large surety bond.
Surety bonds are required for virtually all high profile construction projects to begin, yet they remain a mystery to many. Some have never heard of “surety bonds” or “contractors bonds” as they are commonly referred to in the construction industry, so acquiring one can be unclear all in itself. Bonding requirements vary from one area read more »