The Infrastructure Imperative
Maintenance is frightfully past due on infrastructure projects across the country. Disaster looms. Elected leaders in 2021 have this in common: the imperative to invest significantly in public works. Dig In For years, the American…
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New York City Restarts Construction During Phase One Reopening
Following a three-month delay, New York City construction sites are scrambling to resume operations and complete their projects. Manufacturing, wholesalers, “non-essential” retailers and construction workers can revive Hundreds of thousands of workers will be returning…
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Boston Mayor Pauses Non-Essential Construction Until Further Notice
To slow the spread of the coronavirus (COVID-19), Boston Mayor Martin Walsh announced he is extending the city’s order to halt “non-essential” construction for permitted sites. As the Commonwealth of Massachusetts continues to battle this…
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When Contractors Over or Underbill
Over or underbilling by a contractor can be a big problem for obtaining your bid and performance bonds from your surety bonding company. According to generally accepted accounting principals, contractors should report earnings based on the percentage…
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Construction Labor Shortage Risks Performance
According to the Associated Builders and Contractors, there were nearly 7 million open construction jobs in the United States as of July 2018. The biggest reason for the shortage is a lack of skilled construction…
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Incorrect Project Estimates Cause Construction Cost Overrun
It’s extremely difficult for construction projects to come in under budget. Poor project management may be one reason for the error while unforeseeable circumstances may be another. But one of the most common causes of…
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Massive Surety Industry Growth Expected by 2025
With much global infrastructure needing to be replaced in first world countries such as the United States, the global surety market is expected to grow by 7% per year up to the year 2025. There are going…
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