• Still busy with work and need a bond? We are open and fully operational to help. Like construction, bonding is deemed an essential business and while taking everyone’s health and safety into consideration and staying in accordance with social distancing, we have taken the proper measures to stay open to serve you. • Your [...]
If your Florida construction business has been impacted by COVID19/coronavirus, you might be eligible for a disaster loan to provide liquidity for your business. Florida is providing a short term (<1 year), $50,000 bridge loan at https://floridadisasterloan.org, which is helpful if you need cash now. If you can afford to look at other options, I [...]
"After a 40-0 vote, Florida lawmakers have passed a bill that will limit the amount of retainage that can be withheld from contractor payments on state and local publicly funded projects to 5%. If Florida Gov. Ron DeSantis signs the legislation, the new law will go into effect Oct. 1, 2020. Currently, contractors working on [...]
Heads Up! The FDOT requires that an annual financial statement prepared under Generally Accepted Accounting Principles (GAAP) be included with the contractor’s annual prequalification package this year. Before you have your CPA finalize your financials, make sure they are doing it on the required method. According to the article that the Florida Transportation Builders Association [...]
Whether you're contesting an error or combating fraud, Kiplinger put out a great guide on how to secure the best chance of success. "The three major credit-reporting bureaus—Equifax, Experian and TransUnion—have logged the most complaints for four years running, according to a report from the U.S. Public Interest Research Group. Most of the complaints involve [...]
There was a recent article on law.com that went into detail about how design professionals such as architects and engineers are exposed to significant risk and potential liability for errors and omissions in possibly more than just their designs on construction projects. It was an interesting article worthy of sharing…it stated “In addition to potential [...]
According a recent article on www.constructiondive.com, "a new study has found that slow payments are costing general contractors and subcontractors $64 billion a year. This is a $24 billion increase from the 2018 study from construction finance platform Rabbet." "More than 60% of subcontractors said they have chosen not to bid on certain projects if [...]
"All Around the World" was the theme of this years Expo and all the exhibitors came up with amazing booth designs. Our take on the theme was "Wild About Bonding" and it was great, so great our booth got 2nd place! Although this is always a team event, a big thanks goes to our Account [...]
The SBA is raising the minimum size for engineering, construction and other companies to be classified as "small". By doing so, it's expected the number of firms eligible for SBA Loans and set-aside contracts will increase. The thresholds will rise by about 8% from the current levels. The new standards will take effect on August [...]
It’s nothing new to hear that skilled construction tradespeople are in short supply. There is a major need for construction workers on all levels but not nearly enough skilled workers to fill that need. In 2017 there were 46,600 Florida Construction Firms hiring and there are 1.1 million construction workers needed to fill upcoming projects [...]