Technology is a fact of life in this day and age. Everywhere you look you see a smart world: smartphones, smart homes, smart TVs, smart cars — it’s all smart technology. This has even moved into the construction industry, but it’s surprising how many construction companies are still using outd...
News
Women in Construction: The Future Is Female
Since its earliest days, the construction industry has been thought of as a male-dominated field, and even today, the number of women in construction and contracting professions represent a stark minority. That number, however, is growing by leaps and bounds, and this trend might be the best possibl...
Rising Interest Rates a Slowing Economy and the Construction Industry
Rising Interest Rates, a Slowing Economy and the Construction Industry There’s little doubt that the economy is slowing down. Whether we’re heading into an actual recession remains to be seen, but it’s certain that interest rates are on the rise, spending is down and business is slower than at...
What a Slow Housing Market Means for Construction Companies
Over the past ten years or so, we’ve seen a housing boom due to bank bailouts, low interest rates, and a new enthusiasm from young first-time homeowners re-embracing the American Dream of home ownership after a number of years of cynicism and doubt when the 2008 housing bubble burst. Lenders have ...
Government Purchasing Officers Examine Benefits of Expanding Surety Bonding
With millions of dollars at stake in maintenance and construction projects, it’s vital that government purchasing officers understand the importance of surety bonding for these undertakings. Two insurance executives recently made an educational presentation on how this practice provides the ri...
Understanding the Various Types of Surety Bond
For construction and contracting companies looking to get bonded, the process can be somewhat confusing. While you’ve probably heard lots of information about performance and payment bonds, the two core concepts at the heart of the surety and contracting industry. Did you know there are easily a d...
State Little Miller Acts: What They Mean for Contractors
Miller Act statutes are a necessary part of being a construction and contracting business. These acts, at both the federal and state level, very closely regulate the kinds of surety bonds that a business absolutely must carry if they wish to work on government contracts. That means if you’d like t...
Wyoming Little Miller Act
Wyoming, just like every other state, has laws in place designed to provide peace of mind to the government and to subcontracting bodies when a construction company bids on a job. These laws are based upon a Federal act called the Miller Act, which regulates and requires bonding be in place to prote...
Wisconsin Little Miller Act
It’s vital as a small- to medium-sized contractor for you to understand not just how surety bonding works, but the importance of it and how it plays into the legal aspects of your business. For example, when you begin to bid on government jobs to grow your company, there are laws in place that req...
West Virginia Little Miller Act
A Little Miller Act is a state-level statute that requires you to carry a certain level of bonding in order to bid on a government job. It’s based on a Federal statute called the Miller Act. If you’re a construction or contracting company and you’re looking to grow from small- or medium-sized ...