It’s interesting how a slew of Latin legal words and terms are rarely used but synonymously conjure an action that is often easily overlooked. Force Majeure is the perfect term given the current worldwide state of affairs. How often has this clause been briefing thought about or even skipped over when reading a construction contract? It may be time to have your clients re-read this clause and confirm how it applies to their job performance and contractual obligations.
Job delays, performance deficiencies and delays caused by a labor shortage, gathering restrictions, delivery delays, material back-orders and so on. As the world has come to a pause, be proactive and review contract exposure, considering developing and/or updating a continuity plan funded by insurance and any other Backup Plans specific to your business’s existence.
And lastly, never lose faith in the human race; it is never late for human courtesy so God’s Speed to all and looking forward to hearing about all the accomplishments yet to come.
Let’s face it. Getting bonded, like many other things in life, is necessary, but can seem like an awful hassle. And it sometimes is, with the required documentation and constant back and forth communications and delays. If you do a high volume of projects tasks such as renewals, cancellations, riders and other record keeping can be a challenge as well.
Streamlining the process
That was yesterday. New, streamlined web portals, such as the SuretyWave Bond Portal offered by Blaise Group, eliminate much of the tedium. You still have to supply financials and other documentation (we have a simplified underwriting process for bonds under $750K that helps solve that), but the process is so much faster and more convenient with SuretyWave.
Blaise Group NY, LLC specializes exclusively in surety and fidelity performance bonds. Our new website will help you to better understand and navigate the world of surety bonding, and to understand the different types of bonds that are available.
In addition, we will be publishing articles on a regular basis to help clients and potential clients stay current on issues related to surety bonding. Whether you are a contractor, corporation, law firm, non-profit, government entity or anyone else who requires bonding, we are here to help.
If you have any topics you would like to know more about, please feel free to contact us at (914) 667-7700.