The National Association of Surety Bond Producers (NASBP) recently put out an informative article that advises contractors to be sure they've taken the necessary steps to verify the authenticity of a surety bond. Not doing so could have wide-ranging consequences that could affect subcontractors, suppliers and project owners, putting construction projects in jeopardy. Read [...]
If you haven't already done so, we encourage you to check out the "Links" section of our website which has the links to several different Florida Statutes and Associates that are important in the construction industry. You can click here to be directed to that page.
In January, Florida Governor Rick Scott announced that the Florida Department of Transportation (FDOT) will receive $8.8 billion in Florida’s budget to make strategic transportation infrastructure improvements throughout the state. This means a lot of road and bridge construction opportunities for small and disadvantaged businesses. In an effort to help grow small businesses in the [...]
The National Association of Surety Bond Producers (NASBP) recently developed a new website that offers an online course and a repository of other valuable information to help small and emerging contractors start the bonding process. The website, www.suretylearn.org, helps small and emerging contractors learn more about the basics of bonding and educates emerging construction business [...]
At any recent gathering of general contractors, a common theme has been that they are being presented with plans that are so incomplete and improperly drawn that the project would be unbuildable. Yet, so many are hungry for work, that they bid the job with the hopes of coming to a reasonable resolution with the [...]
Despite how the Fed or the Congress spends our money, it is a real law of economics that every nation has a limited amount of money. You may or may not be impressed at how much a country has, but for everyone, it is limited. In beginning economics, we learned if a country spent more [...]
In case you haven’t heard, there are big things happening at the Panama Canal. It is being made deeper and wider. If you understand the country and the terrain, that is not as simple as it sounds. Not surprisingly, it is taking the contractor longer than he first thought to complete the project. Not surprisingly, [...]
Effective February 12, 2014 the SBA Quick App increased the limit on Liquidated Damages from $250 a day to $1,000 a day! In addition, jobs with two year maintenance terms are now eligible in the program. These improvements to the program will allow more contractors to bid on jobs that never would have been [...]
Be on the lookout, our first newsletter of 2014 will be hitting the streets soon! This newsletter will touch on Florida's economic outlook, tax changes, and flexible surety bond programs. Feel free to call or email us to make sure you're on our mailing list so you don't miss out.
On January 1st, 13 states raised their minimum wage. The Federal minimum wage is still $7.25 per hour. Florida has raised its minimum wage to $7.93. Florida is one of 21 states to have a higher state minimum wage than the federal requirement. It is expected that as many as 14 more states will follow [...]