Edward V. Arnold | Seyfarth The federal Miller Act requires government construction contracts over $100,000 to be bonded. This process involves insurance companies, known as “sureties,” who issue payment or performance bonds to contractors, who in turn furnish the required bonds to the federal government. The bonds guarantee that the contractor will comply with the… Continue reading Surety Liability Under the False Claims Act
Month: September 2022
“That’s a Wrap!” How Wrap-Up Insurance Policies Have Streamlined Construction Defect Litigation
Michael P. Zech | Koeller Nebeker Carlson & Haluck Construction defect litigation was traditionally slow-moving, contentious, and costly for several reasons. First, the sheer number of parties—the property owner, the general contractor, and many subcontractors—typically involved in the litigation made prompt and efficient resolution difficult. With so many parties having various interests that sometimes aligned… Continue reading “That’s a Wrap!” How Wrap-Up Insurance Policies Have Streamlined Construction Defect Litigation
Price Escalation Impacts
Denise Motta | Construction Law Blog This Bulletin provides guidance to contractors, subcontractors, suppliers, and others to ensure compliance with contractual change order requirements in the event work on a construction project is impacted by price escalation. Construction projects are being impacted by increased costs for most construction materials. The Producer Price Index shows a… Continue reading Price Escalation Impacts
Not If, But When: Newly Enacted Virginia Legislation Bans “Pay-If-Paid” Clauses In Construction Contracts
Joseph A. Figueroa and Thomas E. Minnis | ConsensusDocs Recently passed legislation in Virginia is likely to dramatically change contractual relationships between prime contractors and subcontractors in the Commonwealth. Abrogating well-established common-law principles set forth by the Supreme Court of Virginia, on April 27, 2022, the Virginia General Assembly, after receiving input from Virginia Governor… Continue reading Not If, But When: Newly Enacted Virginia Legislation Bans “Pay-If-Paid” Clauses In Construction Contracts