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Tennessee Bankruptcy Court Decision: Impact on Surety Bonds

Tennessee Bankruptcy Court Decision: Impact on Surety Bonds

A recent ruling by a Tennessee bankruptcy court highlights a critical issue for sureties issuing bonds. Despite clear indications that bonds are intended to be statutory, this court case demonstrates that such designations might not always hold. Case Overview In this case, the surety had issued payment bonds for two public works projects on behalf…

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Significant Updates Implemented in Davis-Bacon and Associated Federal Wage Laws

Significant Updates Implemented in Davis-Bacon and Associated Federal Wage Laws

In a major regulatory update, the U.S. Department of Labor has revised the rules under the Davis-Bacon Act (DBA) for the first time in nearly four decades. These changes, impacting a suite of federal wage laws applicable to contractors on federal construction projects, aim to improve clarity, consistency, and enforcement effectiveness. The updated rules, which…

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Construction Bidding Season is Near; Are You Prepared?

Construction Bidding Season is Near; Are You Prepared?

We are fast approaching the construction bidding season. Contact Construction Bonding Specialists, LLC – we are ready to guide you through pre-qualifying for your bond applications for municipalities, schools, and public works that will soon be opening. Our specialty is helping you secure the construction bonds you need. We’ll decipher the paperwork and make recommendations…

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A 2024 Outlook on the Construction Industry: 7 Emerging & Continuing Trends

A 2024 Outlook on the Construction Industry: 7 Emerging & Continuing Trends

Heading into 2024, construction professionals encounter familiar hurdles: recession worries, ongoing inflation, higher interest rates, labor shortages, and supply chain issues. Despite these challenges, there are strategies to navigate them successfully and position your company favorably. Here are seven key trends and solutions to consider. Labor Shortages Remain The construction sector faces a growing skilled…

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Reviewing Contracts in the Construction Sector

Reviewing Contracts in the Construction Sector

As we conclude the year, it’s crucial for those in the construction industry to conduct a thorough review of their contracts, especially for long-term projects. It’s advisable to revisit your contracts to confirm they accurately represent the current state of the project. Any discrepancies should be addressed and documented immediately, rather than waiting for issues…

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Small Rural School Districts and Disadvantaged Communities Face Unfair Levies and School Bonds

Small Rural School Districts and Disadvantaged Communities Face Unfair Levies and School Bonds

The Wahkiakum school district in southwest Washington argues that the levying system leaves rural school children with crumbling, outdated buildings. The small community of about 2,000 residents has appealed to the states Supreme Court and is waiting for the attorney general’s office to respond. In 2012, the state Supreme Court favored the McLeary case, in…

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