Shortly before Congress adopted a measure to help curtail individual surety fraud, an appellate court decision seemed to make it more difficult for contractors who use individual surety bonds on public project bids to compete.
Lifting technology and industry standards have advanced significantly since the mid- 1990s, when the Specialized Carriers & Rigging Association put out the Exxon Crane Guide.
Amendments to the defense authorization approved by Congress tighten the rules governing surety assets in a way that should curtail individual surety fraud.
Under steady conditions, global construction output is set to grow, on average, by nearly 4% annually for the next 15 years—reaching, in constant 2014 dollars, $17.5 trillion by 2030, says an expansive 15-year forecast by two U.K.-based consultants..