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How Surety Bonds Guarantee Project Completion Part 2

Surety bonds can be employed to guarantee project completion and mitigate many of the risks that are so prevalent in this industry. In part one of this two-part series, a Raleigh contractor attorney at Cotney Construction Law discussed how surety bonds can benefit both owners and contractors. We will now go over the most common […]

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How Surety Bonds Guarantee Project Completion Part 1

Construction projects are a collection of components that all have to work in unison for a project to reach completion. When just one of these components fails to meet their responsibilities, it can put the whole project in jeopardy. This is where surety bonds come into play. In this two-part article, a Raleigh construction lawyer […]

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Bonds and Megaprojects Part 4

The larger a project is, the greater the chance of a dispute arising. As more and more parties are introduced to help bring a project to fruition, it quickly becomes apparent if an effective system is in place to ensure that all parties are accountable for the terms of their various contracts. For megaprojects, the […]

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Bonds and Megaprojects Part 3

In parts one and two of this four-part series, the Miami construction litigation attorneys at Cotney Construction Law discussed megaprojects, large-scale public and private construction projects valued in excess of $1 billion. As we’ve discussed, megaprojects are high risk, high reward projects for contractors, and only certain contractors will meet the criteria for engaging with […]

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Bonds and Megaprojects Part 2

Megaprojects present contractors with the unique opportunity to work on large-scale infrastructure and commercial projects that require all involved parties to collaborate for the sake of balancing risk and cost to create a successful end product. Unfortunately, there is a substantial risk of loss due to the cost implications of insurance products covering projects of […]

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Bonds and Megaprojects Part 1

The recent surge in “megaprojects” across the nation isn’t just a phase. These behemoth construction projects, which require more manpower, time, and money than their smaller-scale contemporaries, are pushing the envelope of what we believe can be built. It’s also advancing the notion that, perhaps, bigger IS better when it comes to the development of […]

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Tips for Dealing with Epilepsy in the Construction Industry Part 1

In 2014, the International League Against Epilepsy (ILAE) and the International Bureau for Epilepsy revised the definition of “epilepsy” to help society obtain a more precise understanding of what the disease is and what conditions must be met for a person to qualify as having epilepsy. This revision, which came over one hundred years after […]

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What’s the Difference Between Bonds and Insurance? Part 2

The first part of this article went over the application process and parties involved in bonds and insurance. A Raleigh contractor lawyer explains the difference between bonds and insurance when claims are involved in this part. Handling Claims Insurance and bonds handle claims very differently. Put simply, insurance companies expect to pay claims and bond […]

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What’s the Difference Between Bonds and Insurance? Part 1

Risk is abundant in the construction industry. Risks can be associated with building, installation, or money. Insurance and bonds offer different kinds of risk protection in exchange for the general contractor’s payment. While bonds and insurance reduce risks for contractors and owners, bonds are generally meant to protect clients. Clients are attracted to a contractor […]

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Secured Loans with Bonds, Notes, and Mortgages Part 2

As a contractor, the scope of your operations is dictated by the owner’s ability to secure funding for a construction project. Without secured loans, it would be impossible to complete projects and you certainly wouldn’t be paid. Therefore, it’s important that you possess a fundamental understanding of how these agreements are handled. In part one, […]

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