Surety & Bonding
Performance Risk—Surety & SDI
SURETY: SHARPER INSIGHTS
In 1919, we began as a surety brokerage, and that surety consultancy has remained the backbone of our success and continues to define and drive our strategy moving forward.
- Program Optimization: We negotiate advantageous terms for your surety program.
- Market Management: We serve as your advocate and provide open lines of communication through our strong relationships with partner markets on both a local and national level.
- National Reach: We work with some of the most respected construction companies throughout the nation, which means we have the connections and resources to deliver coast-to-coast service for you.
- Industry Analysis and Financial Benchmarking: Our proprietary “Cobb Report” provides customized financial performance benchmarking against your peer group. This report identifies opportunities to optimize your surety program and manage the underwriting process while also revealing valuable insights that help you understand financial returns and success relative to your peers.
SDI: UNWAVERING SUPPORT
Subcontractor performance risk is one of the most significant risks construction entities can face. We help identify, mitigate, and limit the risk of subcontractor default through a comprehensive approach that includes prequalification (assessment and implementation), selection process, QA/QC, and contractual risk transfer.
We also facilitate the use of third-party risk mitigation tools such as surety bonding and Subcontractor Default Insurance (SDI), a specialty insurance product used to manage the risk of subcontractor default. Since our construction risk experts were involved with the initial development and implementation of SDI, we offer a unique level of product expertise evaluating and implementing SDI programs that give you control and protection in the event of subcontractor default.
OUR MOST IMPORTANT BUILDING PROJECTS ARE RELATIONSHIPS
While our technical expertise is second to none, the real value we bring you is that we deeply care about strengthening relationships. Our concern with your wellbeing as a client, your livelihood, and your business, is an integral part of our business model.
Contact us for a consultation with one of our surety or SDI experts today.
At von Briesen & Roper, s.c., our Construction Law Section can assist you in reviewing your present business practices to help identify areas where you are legally and transactionally vulnerable. Similarly, we can identify business practices which will challenge your ability to be paid for your hard-earned work.
Some of the services that we offer include:
• Upgrading construction contracts to reduce risk and improve collections
• Upgrading change-order procedures and documentation
• Analyzing construction business practices to process owner and upstream contractor, delay and scope changes
• Overview of construction insurance programs and review of business practice relative to the use and reliability of certificates of insurance
• Insuring practices relative to “waiver of subrogation” and “additional insured practices”
• Insurance coverage claim evaluation
• Review and responding to potential and pending claims by owners including:
– Delay damages
– Repair/Correction claims
– Early completion demands
– Warranty claims
– Liquidated damage claims
– Breach of contract claims
– Surety claim
We want to help you succeed. We know that profits and margins are under cont
inual pressure, and we will empower you to assess your risk and properly budget for upgrades to your business and legal practices. Because we believe in a proactive program, we will assist you in creating a checklist of upgrades based upon your needs and budget. Additionally, when construction claims are suspected or pending, we can assist you behind the scenes with risk management as well as be your legal advocate. We believe in creative solutions for construction disputes including direct-party negotiation, mediation and arbitration besides traditional court litigation.
Let us provide you a “risk-free” review of your construction documents and practices or, if you’re confronted with a construction claim, OSHA violation, environmental issue or labor concern, we can help also.
Recent Articles in Surety & Bonding
- Contractual Risk Transfer Can Make or Break Your Business Posted on: February 22, 2012
Performance Risk—Surety & SDI SURETY: SHARPER INSIGHTS In 1919, we began as a surety brokerage, and that surety consultancy has remained the backbone of our success and continues to define and drive our strategy moving forward. Program Optimization: We negotiate advantageous terms for your surety program. Market Management: We serve...