Archive for: April 2020

Uncertain Surety: Expiration Of A Limitation Against A Principal Is Not A Defence To A Bond Claim

Sometimes failing to arbitrate a dispute with a binding arbitration provision can be fatal to a claim under a construction contract, particularly if the limitation period to commence the arbitration has expired.  But, in the case of a project with a performance bond, things can sometimes become more complex....

Surety bond at issue in Merchants Greene contractor’s bankruptcy [CNA]

The cessation of operations at Trent-Wyatt Contracting, a Jefferson City-based company that had a large erosion-control contract at the Merchants Greene development in Morristown, has created a complicated legal wrangle involving city government and Western Surety, Trent-Wyatt’s former bonding company, officials say. Trent-Wyatt obtained a bond through Western Surety...

Trisura issues coronavirus advisory for contractors

To aid brokers in guiding their contractor clients through the pandemic, Trisura Guarantee Insurance has issued an advisory with helpful suggestions and reminders. The advisory, authored by Trisura vice-president of surety and warranty claims Stuart Detsky, was posted on the company’s official blog. Contractors should contact all of their employees, sub-contractors,...

The Intertwined Business Worlds of Construction & Surety: Can the Surety Industry Weather the COVID-19 Storm?

Before the COVID-19 pandemic spread, construction in the U.S. was booming. Backlogs were deep and project funding was easily accessible. Back before we knew the term COVID-19, the “crisis” in the construction industry was the labor shortage, an aging generation of skilled tradesmen, or the nation’s infrastructure. No one...

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