We live in interesting times, uncertain times, anxious times. It is difficult to predict what is going to happen to surety credit over the next few COVID-19 months (years?). It is likely, however, that sureties will rely on, more than ever, the general agreement of indemnity (GIA). As with any contract, it is […]
What If The Contractor, Rather Than The Owner, Signs a Notice of Commencement? Is the Notice Defective And, Therefore, Ineffective?
Lexology.com provided an in-depth answer to this very popular question. “Under Florida lien law, a Notice of Commencement is a form document the property owner is generally required to sign […]
What can you do to prepare for the potential hardening surety market?
Everyone wants to grow their construction business, we want to help you grow yours while avoiding the pitfalls associated with growing too fast.
• 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 current surety […]
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 […]
“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, […]
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 […]
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. […]
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 […]