Subcontractor Default Insurance: Pros & Cons for General Contractors
Levelset
APRIL 28, 2022
Construction is a risky business, with among the highest rates of failure of any industry. Some GCs pass the cost of the loss reserve onto the project owner and claim that amount as additional profit on the project. To replace the original subcontractor, ABC Builders hires Water Works to finish the project at a cost of $1.2
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