A payment bond guarantees payment of subcontractors, laborers, and suppliers on a project. Payment bonds are required on public projects for prime contracts.
While the general commercial real estate markets have faced more than a year of raising interest costs, fewer deals, and economic uncertainty, the branded-residences sector.
The use of delegated design in construction, where a project's design professional of record assigns responsibility for a specific part of the design to the contractor, is on the rise .
What is builder's risk insurance? Builder's risk insurance covers accidental losses, damages and destruction to property damages during construction operations.