You may hear different opinions on the subject but there is substantial proof that 2012 was a fruitful year for innovative construction in the U.S. The industry is an intensive and volatile one, heavily affected by an economic downturn. There are also many laws and regulations to follow, which make it a difficult playground: from 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.