Related Links: Clarity Needed on Individual Surety Assets Did Officers Divert Funds at Surety First Sealord? (subscribers only) Even if you are in the surety business, you may not have heard of the Safety Signs case. If you have, you probably hope it will be resolved soon and go away. The case involves a subcontractor, Safety Signs LLC, that made a claim under a payment bond the surety refused to pay. Under the technical details of Minnesota state law, the surety's refusal to pay was entirely legal.The American Subcontractors Association filed an amicus curiae brief in January urging the Supreme
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.