Surety Bonds for Construction Contracts


Author: Jeffrey S. Russell
Publisher: ASCE Publications
ISBN: 078447043X
Category: Technology & Engineering
Page: 416
View: 9538

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This book presents the complex field of suretyship for construction contracts by describing and analyzing each element of the surety bonding process in basic terms. Russell unravels the suretyship puzzle through numerous examples and extended case studies drawn from real-world experience. Sample bond forms and surety documents, as well as an extensive glossary of key terms, serve to further illustrate each step of the bonding process. As the only comprehensive treatment of surety bonding for construction contracts, this book explains the details of suretyship as well as these topics: How surety bonds function, How a contractor can secure bonding, Who the key players are in the surety relationship and how they interact, How to properly structure key documents, What a contractor should look for in a surety and in an independent surety agent, Why the private owner should consider surety bonding to guarantee projects, How surety bond claims are handled, and The steps a surety company may take when contractor default occurs. In addition to exploring the many facets of the bonding relationship, this book describes many subtleties of this endeavor, including the surety's role in prequalifying contractors and why an owner might consider requiring or waiving surety bonds; opportunities to benefit from the financial analysis of the underwriter; and alternatives to surety products for contractors who may have experienced difficulties acquiring bonding. This book also covers such issues as international guaranty, reinsurance, surety and design-build, and emerging surety market trends. This book will be useful to contractors, owners, design professionals, construction accountants and attorneys, and other construction industry personnel.

Practical Guide to Construction Contract Surety Claims


Author: William Schwartzkopf,Richard Tasker
Publisher: Aspen Publishers Online
ISBN: 0735552630
Category: Law
Page: 963
View: 6122

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Practical Guide to Construction Contract Surety Claims, Second Edition provides clear guidance on the methods, procedures and case law surrounding the surety process. Whether you represent the surety, principal, or obligee, this one-of-a-kind reference will provide you with the indispensable, practical guidance and reliable tools you need to manage the surety process. Practical Guide to Construction Contract Surety Claims, Second Edition is logically organized around the various types of bonds - payment bond, bid bond, performance bond - as well as the claims that are asserted against those bonds, and the methods of investigation and resolution of those claims. It covers in detail the surety's options for resolving performance bond claims, including: Tender Completion by the obligee Completion by surety Financing the principal This book also addresses matters that affect the claims handling process, such as: Bankruptcy of the principal Claims for extra-contractual damages Claims by the surety against the principal Indemnity for losses sustained by the surety The interrelationship of the surety and the insurance carriers for the construction project Valuable analysis of case law is included within the discussion of each topic, and the relevant facts of key cases are highlighted where applicable. Bonus Interactive CD-ROM Includes All Forms and Documents This unique CD-ROM contains nearly 150 forms, such as sample agreements and correspondence among the parties, providing the guidance you need to act quickly and protect your client's interests in any situation.

Construction Contracting

A Practical Guide to Company Management
Author: Richard H. Clough,Glenn A. Sears,S. Keoki Sears,Robert O. Segner,Jerald L. Rounds
Publisher: John Wiley & Sons
ISBN: 1118693213
Category: Technology & Engineering
Page: 640
View: 707

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The definitive contracting reference for the construction industry, updated and expanded Construction Contracting, the industry's leading professional reference for five decades, has been updated to reflect current practices, business methods, management techniques, codes, and regulations. A cornerstone of the construction library, this text presents the hard-to-find information essential to successfully managing a construction company, applicable to building, heavy civil, high-tech, and industrial construction endeavors alike. A wealth of coverage on the basics of owning a construction business provides readers with a useful "checkup" on the state of their company, and in-depth exploration of the logistics, scheduling, administration, and legal aspects relevant to construction provide valuable guidance on important facets of the business operations. This updated edition contains new coverage of modern delivery methods, technology, and project management, with sample contracts and documentation and a companion website for additional guidance. The field of construction contracting comprises the entire set of skills, knowledge, and conceptual tools needed to successfully own or manage a construction company, as well as to undertake any actual project. This book gives readers complete, up-to-date information in all of these areas, with expert guidance toward best practices. Learn techniques for accurate cost estimating and effective bidding Understand construction contracts, surety bonds, and insurance Explore project time and cost management, with safety considerations Examine relevant labor law and labor relations techniques Between codes, standards, laws, and regulations, the construction industry presents many different areas with which the manager needs to be up to date, on top of actually doing the day-to-day running of the business. This book provides it all under one cover – for the project side and the business side, Construction Contracting is a complete working resource in the field or office.

Smith, Currie & Hancock's Federal Government Construction Contracts

A Practical Guide for the Industry Professional
Author: Thomas J. Kelleher, Jr.,Thomas E. Abernathy, IV,Hubert J. Bell, Jr.,Steven L Reed,Smith, Currie & Hancock LLP
Publisher: John Wiley & Sons
ISBN: 0470539763
Category: Technology & Engineering
Page: 736
View: 6044

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Federal Construction Law for Construction Professionals Any firm intent on benefitting from the boom in federal government construction contracts must navigate an increasingly complicated and demanding set of laws, regulations, and practices that govern these projects and the contractors performing them. To help guide you through this maze, here is the updated edition of the easy-to-understand guide to the practical reality of these special requirements, and how managers and owners of construction industry firms can use them to effectively avoid pitfalls on current projects and compete successfully for new projects. Smith, Currie & Hancock's Federal Government Construction Contracts, Second Edition walks the reader through actual federal contracts, highlights critical clauses, and simplifies governmental and legal jargon to provide ease of use by the nonlawyer. Updates to this Second Edition include: Coverage of the newly enacted American Recovery and Reinvestment Act of 2009 Specifics of federal government grants to state and local public construction contracts New insights on Design-Build, Early Contractor Involvement (ECI), BIM, Green Construction, and Web-based project management techniques used by the federal government A revised look at the increasingly detailed business ethics and compliance program requirements for contractors and subcontractors as mandated by the federal government for its contractors A unique Web site at www.wiley.com/go/federalconstructionlaw provides the user with a Table of Acronyms and Terms commonly found in federal government contracts, an extensive list of Web sites of interest to federal government construction contractors, checklists, sample forms, as well as specifications related to innovations in project delivery By making transparent the many rights, risks, and legal responsibilities involved in a federal government construction project, Smith, Currie & Hancock's Federal Government Construction Contracts, Second Edition provides construction industry professionals—from general contractors, subcontractors, and designers to surety bond agents—with the insight and understanding they need to avoid problems and run a successful project from start to finish.

The Small-Business Guide to Government Contracts

How to Comply with the Key Rules and Regulations . . . and Avoid Terminated Agreements, Fines, or Worse
Author: Steven Koprince
Publisher: AMACOM
ISBN: 0814431976
Category: Business & Economics
Page: 352
View: 5300

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Each year, the federal government awards billions of dollars in small-business contracts. It's both the lifeblood of hundreds of thousands of companies and a quagmire of red tape. One misstep can result in hefty fines, cancelled contracts-even jail time. The Small-Business Guide to Government Contracts puts a wealth of specialized legal counsel at readers' fingertips. It's the one book that looks beyond winning a piece of the $500 billion pie and concentrates on the crucial but complex Federal Acquisition Regulation (FAR) and other rules required for keeping the contract alive and avoiding penalties. Clear answers to the most important compliance questions are inside, including: * Is a small business really small? * Who is eligible for the HUBZone, 8(a), SDVO or WOSB programs? * What salaries and benefits must be offered? * What ethical requirements must be followed? * When does affiliation become a liability? No one can afford to be lax with the rules or too harried to heed them. This book helps contractors meet their compliance obligations-and keep the pipeline flowing.

Construction Contracts


Author: Jimmie Hinze
Publisher: McGraw-Hill Science, Engineering & Mathematics
ISBN: 9780072551693
Category: Technology & Engineering
Page: 512
View: 9828

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In "Construction Contracts, 2nd Edition, the most important aspects of contract administration are detailed and critical issues are supported with case/legal principles. This book was written to serve as a learning tool and a reference guide. The fundamentals of contract law are presented, along with an in-depth treatment of the construction topics which most frequently result in litigation. In addition, an overview is provided of other important construction-related topics, including the procurement process for construction contract, methods of dispute resolution, surety bonds, construction insurance, construction safety, and construction labor laws. The second edition incorporates some of the changes that have occurred during the past decade.In comparison with other books on contract, two distinguishing features of this text should become apparent. First, this text includes summaries of a large number of legal cases involving construction and discusses many topics that are germane to contract disputes. Well over 100 cases are described to help illustrate key points. The second feature not found in most texts is that many contract provisions are isolated for the reader.

Legal Aspects of Architecture, Engineering & the Construction Process


Author: Justin Sweet,Marc M. Schneier
Publisher: Cengage Learning
ISBN: 0495411213
Category: Technology & Engineering
Page: 769
View: 5877

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The primary focus of this text is to provide a bridge for students between the academic world and the real world. This bridge is built through an understanding of what is law, how law is created, how law affects almost every activity of human conduct, and how legal institutions operate. Intended mainly for architectural and engineering students, but increasingly for those in business schools and law schools, this text features a clear, concise, and jargon-free presentation. It probes beneath the surface of legal rules and uncovers why these rules developed as they did, outlines arguments for and against these rules, and examines how they work in practice. Updated with the most recent developments in the legal aspects of architectural, engineering, and the construction processes, this text is also a valuable reference for practitioners that has been cited in over twenty-five court decisions. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.

Using and Understanding Engineering Service and Construction Contracts


Author: John R. Clark
Publisher: Springer Science & Business Media
ISBN: 1468473107
Category: Juvenile Nonfiction
Page: 320
View: 2316

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1. HISTORICAL BACKGROUND In the late 1950s many members of the design professions-Engineers as well as Ar chitects-became concerned about their exposure to claims for professional malprac tice and particularly about the increasing number of claims that had been successfully brought against them arising out of their Construction Phase activities. This led to special studies sponsored by the American Institute of Architects and the Engineers joint Counsel. The outcome was twofold: the development of a policy of professional liability insurance to insure Engineers and Architects against errors and omissions in the performance of their professional services, and the review and development of the customary contractual arrangements defining the design profeSSional's undertakings vis a vis his client (the Owner), the Project to be designed, and the Contractor who was to implement that design. At the outset, the AlA's Owner-Architect Agreement (No. B131), General Conditions (No. A201) and the Owner-Contractor Agreements (Nos. A101 & 111) were the documents most frequently used by design professionals, and these received particular attention. In the early 1960s it became apparent that there was a need for a separate series of documents prepared to address these relationships when the Project to be designed involved primarily engineering considerations. The number of Projects for which the Engineer was employed by the Owner as the prime professional to handle the Project design and construction administration was increasing.

Smith, Currie and Hancock's Common Sense Construction Law

A Practical Guide for the Construction Professional
Author: Thomas J. Kelleher, Jr.,John M. Mastin,Ronald G. Robey,Smith, Currie & Hancock LLP
Publisher: John Wiley & Sons
ISBN: 1118858158
Category: Technology & Engineering
Page: 896
View: 5283

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Cut through the legalese to truly understand constructionlaw Smith, Currie & Hancock's Common Sense ConstructionLaw is a guide for non-lawyers, presenting a practicalintroduction to the significant legal topics and questionsaffecting the construction industry. Now in its fifth edition, thisuseful guide has been updated to reflect the most currentdevelopments in the field, with new information on Public PrivatePartnerships, international construction projects, and more.Readers will find full guidance toward the new forms being producedby the AIA, AGC, and EJDC, including a full review, comparison tothe old forms, areas of concern, and advice for transitioning tothe new forms. The companion website features samples of thesedocuments for ease of reference, and end of chapter summaries andchecklists help readers make use of the concepts in practice. Theupdated instructor support material includes scenario exercises,sample curriculum, student problems, and notes highlighting the keypoints student responses should contain. Construction is one of the nation's single largest industries,but its fractured nature and vast economic performance leave itheavily dependent upon construction law for proper functioning.This book is a plain-English guide to how state and federal lawaffects the business, with practical advice on avoiding disputesand liability. Understand construction law without wading through legaltheory Get information on an emerging method of funding large-scaleprojects Parse the complexities presented by international and overseasprojects Migrate to the new AIA, AGC, and EJDC forms smoothly andconfidently This book doesn't cover legal theory or serve as a lawyer'sguide to case law and commentary – its strength is the clear,unaffected common-sense approach that caters to the constructionprofessional's perspective. For a better understanding ofconstruction law, Smith, Currie & Hancock's Common SenseConstruction Law is an efficient reference.

The Law of Payment Bonds


Author: Kevin L. Lybeck,H. Bruce Shreves,American Bar Association. Fidelity and Surety Law Committee
Publisher: American Bar Association
ISBN: 9781570735325
Category: Law
Page: 393
View: 1634

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"This publication has been prepared for use in conjunction with the mid-winter program of the Fidelity & Surety Law Committee of the Tort Insurance Practice Section of the American Bar Association, held in San Francisco, California on January 30, 1998"--Page iii.

Smith, Currie & Hancock's Common Sense Construction Law

A Practical Guide for the Construction Professional
Author: Thomas J. Kelleher, Jr.,Smith, Currie & Hancock LLP
Publisher: John Wiley & Sons
ISBN: 047023136X
Category: Law
Page: 736
View: 5817

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Be prepared with the bestselling guide to the laws that govern construction Knowledge of construction law and employment law is essential to running a successful construction business. This Fourth Edition of the bestselling Smith, Currie & Hancock's Common Sense Construction Law provides a practical introduction to the significant legal topics and questions affecting construction industry professionals. Like its popular previous editions, this Fourth Edition translates the sometimes-confusing theories, principles, and established rules that regulate the business into clear, lay-person's English. This new edition updates the comprehensive scope of its predecessors with: Coverage of the newly issued and recently revised industry-standard contract documents produced by the AIA, ConsensusDOCS, and EJCDC for 2007/2008 A CD featuring sample contracts and documents from AIA, ConsensusDOCS, and EJCDC that familiarizes readers with these important documents, and aids in understanding document citations in the book Improved pedagogical tools and instructor support material for use in the classroom The most up-to-date and thorough guide to a sometimes intimidating but critical aspect of the practice of construction, Smith, Currie & Hancock's Common Sense Construction Law, Fourth Edition gives industry professionals the knowledge they need to avoid legal surprises and gain a competitive advantage.