Sponsored Content from Old Republic Surety Posted by Becky Nichols Fidelity and public official bonds both involve protection from fraudulent or dishonest behavior by individuals. Are you worried your employees might steal from you? Then it would help if you looked into fidelity bonds. Are you a public figure required by law to be bonded ..read more

Sponsored Content from Old Republic Surety There are several issues specific to construction bonds for privately funded projects that make them substantially different from publicly funded endeavors. For example, the project owner (the obligee on the bond) becomes a crucial part of the bond qualification process in a privately funded enterprise. Knowing these issues in ..read more

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NASBP CPA Advisory Council participants reveal key changes, advances in construction accounting ..read more

ISTOCK.COM/STILLFX By Carl Oliveri In the high-stakes construction world, a surety must have a deep understanding and real-time knowledge of the trends and issues the industry is grappling with and how those issues impact the contractor base you may be underwriting. While I hate to make a poker analogy, it is hard not to, especially when the surety’s winning hand requires a combination of critical elements working together harmoniously. This article explores construction’s “royal flush”: Cash, Compliance, Labor, Succession Planning, and Technology. Cash is KING One of the first things I learne ..read more

ISTOCK/COM/IRYNA DROZD By Julian Xavier of CliftonLarsonAllen LLP claconnect.com Construction has had strong results in general over the past few years, and many contractors continue to maintain strong backlog positions even now. However, with the current uncertainty around inflation, interest rates, and labor shortages, it is timely to take a closer look at construction accounting practices to ensure a company is positioned well to respond to and survive economic downturn. While some remain best practices, key focus areas include using technology to do more with less, timely monitoring of pro ..read more

ISTOCK.COM/LOVELYDAY12 By Michael A. Marra Over the past decade, the field of construction dispute avoidance and resolution, particularly arbitration, has evolved significantly in response to the complexities of global construction projects and advances in technology. The American Arbitration Association (AAA), the leader in construction dispute resolution, understands the evolution reflects a broader shift towards more efficient, flexible, and technologically integrated approaches to dispute resolution, shaped by emerging challenges and the need for more specialized expertise in resolving con ..read more

ISTOCK/FERMATE By Judge Chad Allred (Ret.) of JAMS Fantastic news! The deal has come together—for construction of the steel bridge or for placement of the exterior panels on the downtown high-rise or for the dirt work at the site of the new energy plant. All the hard work, planning, bidding, and negotiation have reached a culmination! Well, not quite. There’s still a contract to wrap up. And too often contract mistakes can undermine everything that went into landing the deal. Here are remedies to three errors that—as a judge with many years of experience in construction dispute resolution—I ha ..read more

Sponsored Content from Old Republic Surety The USS Alabama, an 80-year-old battleship commissioned during World War II, is the main attraction at Battleship Memorial Park in Mobile, Alabama. With more than 15 million visitors since the park opened in 1965 and nearly $1 billion in economic impact to the state, the ship is an important part of military history and a source of pride for the people of Alabama. When the USS Alabama Battleship Commission decided to restore the ship’s main, teak deck, it faced two monumental challenges: raising over $8 million for the project, and keeping ..read more