What is the difference between a Surety Bond and Subguard? A Surety Bond is a three-party agreement between the principal, the obligee, and the surety where the Surety assures the obligee that the principal will perform a contract and pay any subs/suppliers they used according to the contract terms. A Surety Bond is not insurance, [...]
This week the Florida Transportation Builders’ Association “FTBA” had their Annual Construction Conference in Orlando. It was a very well attended event; there were over 500 attendees consisting of General Contractors, Subcontractors, Suppliers, Professional Services Companies, etc. There were several break out sessions that allowed companies to learn more about certain opportunities that could help [...]
The Orlando Business Journal put out an interesting article showing who the richest people in Florida are. Click HERE to read the article.
As of December 31, 2015, contracting officers can now make sole source awards to Women-Owned Small Businesses and Economically Disadvantaged Women-Owned Small Businesses. This is pretty exciting for all the WOSB and EDWOSB's out there! A sole source award is the best way for a company to be awarded a government contract. The awardee still [...]
We all heard the unfortunate news that the new Orlando City Soccer Club Stadium will now not be opening until 2017. Curious minds want to know what to expect with this long awaited soccer stadium! Well, in a recent arcticle from the Orlando Biz Journal, we can now at least get a virtual tour to hold [...]
As part of our training program, we send our employees to take part of the National Association of Surety Bond Producers "NASBP" Surety School sessions. Level I is a good introduction into bonding and goes into detail the things that we train on in the office. Sarah Drinnan, joined our team in March and participated [...]
Here is a link to a great article on the Construction Executive's website. The article shares 10 tips on negotiating contracts. Understand the owner’s project performance requirements. Develop realistic cost estimates. Establish a realistic project schedule. Sell the project team. Pick risk allocation battles. Engage an insurance advisor. Strive for progressive dispute resolution. Understand the [...]
Workers are racing to meet the January 12th deadline for the new Daytona Rising stadium. If you were to look at the stadium from International Speedway Blvd., all might look ready to go, but there is actually still a lot left to do! Barton Malow project director Len Moser said work slowed for the Thanksgiving holiday [...]
The National Defense Authorization Act, a new military spending bill which President Obama is expected to sign, includes Section 874; which upgrades the minimum standards for surety-bond assets. The section closes a gap in federal regulations by requiring that assets are real and placed in the care and custody of the federal government. Under the [...]
It's always nice to get together out of the office and do something fun. When you can incorporate that into a team building event, it's even better. The Florida Surety Bonds team did their first ever team cooking class last week and had a blast! In this class, we worked together to make a [...]