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Construction Claim- Types, Causes, and Preventive Measures

The Constructor

A construction claim is the assertion of a right that requires either more time or/and payment by either party of the contract (often the contractor) for compensation of the losses brought on by the other party’s failure to uphold their portion of the responsibilities as defined in the contract.

Claims 299
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Navigate a Bond Claim Successfully

Construction Business Owner

In order to grasp the appropriate ways to pursue or defend a bond claim in a meaningful way, contractors should have some background on what payment bonds are and how they work. In the context of construction projects, bonds can be divided into three primary types: bid bonds, performance bonds and payment bonds.'

Claims 267
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3 Ways a Surety Bond Claim Negatively Impacts Business

Construction Business Owner

For any variety of reasons, including overextension, financial issues or a lack of expertise in a specific trade, contractors may fail to perform the work they promised. A customer or the state can then file a claim against a bond, which can cause damage to the business in several different ways.

Claims 285
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6 Tips to Protect Your Company from Bond Claims

Construction Business Owner

Even the best contractors can find themselves in the middle of disputes. Occasionally, these disputes escalate, and the contractor is presented with a bond claim. Depending on the size of the claim and the strength of the company, these claims can put contractors on the ropes and even knock them out of business.

Claims 212
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Three Keys to Preventing Construction Defect Claims

Construction Business Owner

About five years ago, you were the general contractor for a new multi-tenanted building, and now the building owner has called to inform you that the facility is facing issues with water intrusion. Your phone rings, and it’s a call you were not anticipating. You have officially been put on ?notice,

Claims 253
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The Consequences of Overstating Claims Under Colorado’s Public Works Act

Levelset

A recent Colorado Court of Appeals decision offers essential guidance for subcontractors filing claims under the Colorado Public Works Act. The case clarifies what can and cannot be included in a verified statement of claim, particularly concerning delay damages, and highlights the severe consequences of filing an excessive claim.

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Streamlining Commercial Property Claims Management with Commercial Managed Repair

Contractor Connection

For carriers, brokers, risk managers and adjusters this is not just a claim, it is a race against time. Embracing a commercial MRP is a powerful strategy to optimize the claims process, minimize delays and improve commercial loss management. These programs cut through the chaos, expedite recovery and keep stakeholders satisfied.