The November 2021 AGC data shows there’s been an alarmingly large gap between construction input inflation and bid price inflation since April 2020, but it appears the bid price inflation is finally gaining ground. The bid price inflation rate sharply rose from 2.8% in May 2021 to 12% by October 2021. Industry analysts expect bid [...]
Meet Jaxon! His mom, Account Manager Jenna Delgado, is already teaching him that a good smile goes a long way. We are so happy to have Jenna back! She survived her first week back in the office and away from Jaxon. Need a Bond? Give us a call today (407.786.7770). It may not be Jaxon [...]
With the new $2.3 trillion US infrastructure spending proposal and the $1.52 trillion 2022 discretionary spending proposal submitted to Congress there will be more contractors looking to take advantage of upcoming opportunities. If public work is new to you there is a lot to consider before bidding - bonding is one of them. Florida Statutes [...]
Liberty Mutual Surety provided a great visual breakdown of common factors that lead to contractor failure. They got this data through evaluating a sample of contract surety claim matters over a 10-year period. Elements were identified at the time of the claim and are listed by frequency; there are many cases in which multiple elements [...]
Construction Input Costs and Overall Inflation on the Rise: With fiscal stimulus checks hitting bank accounts across the United States this month and tax refunds rolling in, we have our eyes on construction input inflation, as well as inflation in the broader economy. Earlier this month, Associated Builders and Contractors reported that nonresidential construction input [...]
Happy St. Patrick's Day from our team to yours! One thing we love more than bonds is....FOOD! Agent Bob O'Linn kicked off our St. Patrick's Day celebration with his homemade Chocolate Chip Irish Soda Bread. What's your favorite St. Patrick's Day dish?
By: Curtis Fort with Construction Credit & Finance Group, LLC. Review your credit application. Extending credit to customers can be very risky; however, a comprehensive credit application containing security language can mitigate that risk and allow you to file a UCC-1 to further secure your receivables. Educate your credit & sales teams throughout the year [...]
It was interesting to learn that of the 96,000 PPP loan forgiveness applications the SBA has received since August 10th, they have yet to actually approve any. It's no wonder that contractors have become frustrated by the long wait - but it appears they may finally be getting their long awaited answers. According to an [...]
There are a lot of unknowns in the world right now, so it was nice to have something familiar to look forward to. The Associated Builders and Contractors made the decision to still put on their annual event, one they know so many people look forward to every year. They put safety precautions in place, [...]
We live in interesting times, uncertain times, anxious times. It is difficult to predict what is going to happen to surety credit over the next few COVID-19 months (years?). It is likely, however, that sureties will rely on, more than ever, the general agreement of indemnity (GIA). As with any contract, it is far better [...]
