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Recent Posts

SURETY BONDING – THE NUTS & BOLTS

Posted on 12 July, 2014
Surety bonding is necessary in construction, particularly on federal and Florida public projects where the contractor is required to furnish a payment and performance bond.  Even certain owners of large-scale private projects want their contractor to obtain a payment and performance bond.  Understanding...

THE ALL MIGHTY GENERAL AGREEMENT OF INDEMNITY WITH THE SURETY

Posted on 8 July, 2014
Sureties do not issue bonds (e.g., payment or performance bonds) unless the principal and the principal’s personal guarantors execute a General Agreement of Indemnity (“Indemnity Agreement”).  The Indemnity Agreement routinely requires that the principal / guarantors: (1) defend and indemnify the surety for...

“FORFEITURE” PROVISIONS IN INSURANCE POLICIES

Posted on 3 July, 2014
Insurance policies contain what are referred to as “forfeiture” provisions.  These are provisions where an insured through its actions / conduct can arguably forfeit coverage under the policy for a peril or claim that would otherwise be covered under the policy.  Typical examples...

MILLER ACT REQUIREMENT FOR SUPPLIER ON AN ONGOING OR OPEN ACCOUNT

Posted on 1 July, 2014
Suppliers oftentimes rent or furnish supplies or equipment on credit to a customer (such as a subcontractor) on an ongoing or open account.  Under this scenario, the supplier typically has its customer enter into a credit application (ideally, where...

FREE 15 MIN. WEBINAR ON BEING PROACTIVE REGARDING YOUR LIEN RIGHTS

Posted on 29 June, 2014
Check out a free 15 minute webinar on July 16, 2014 beginning at 12pm on being proactive regarding your construction lien rights