Risk Management Archives - Page 2 of 12

An Ounce of Prevention is Worth a Pound of Cure: Prepare for Success on Your Construction Projects 0

By: Jim Sienicki and Christian Fernandez, Snell & Wilmer L.L.P. An ounce of prevention is worth a pound of cure—a concept subcontractors would be prudent to adopt. Often the best approach a subcontractor can take to prevent or manage claims and disputes on a project is to implement best practices before the dispute arises. This

Looking Ahead: Optimizing Credit Applications for a Smoother 2025 0

By Patrick Hogan, handle.com With Q4 upon us and the following year just around the corner, keeping a close eye on how credit is extended and managed will be vital to setting up for success. Subcontractors must stay on top of their credit management practices to protect cash flow and keep things running smoothly. At

Digital Safety in Construction: A Priority for Modern Contractors 0
- Best Practices, Improving Productivity, Outlook & Trends, Risk Management, Safety, TECHNOLOGY
- June 25, 2024
By Patrick Hogan, handle.com Safety in construction extends beyond physical hazards. With the increasing reliance on digital tools and technology, safeguarding a company’s data is critical. As cyber threats and poor digital security can lead to data breaches and operational disruptions, protecting digital assets has become as essential as ensuring physical safety on the
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Ready to Respond? Contractors’ Best Practices for Performance Bond Claim Preparedness 0
- Claims, Insurance, Risk Management
- April 23, 2024
By Gina Lockwood, Esq., Merchants Bonding The frequency and severity of claims ebbs and flows, dependent on a variety of economic influences. But whether claims are on the rise or on the decline, contractors should always understand a surety’s claims process, and have the right practices in place to mitigate potential impacts of a claim.
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Minimize Risks in Contractor Dispute Settlement Agreements 0
- CONSTRUCTION, Contracts, Legally Speaking, Risk Management
- April 23, 2024
By: Benjamin Lajoie, McGlinchey Stafford PLLC Disputes between contractors, subcontractors and/or owners are relatively common in the construction industry. Although you should not appear over-eager in rushing into a settlement to avoid the time, costs, and stress that comes with protracted litigation, when settlement appears likely and in your company’s best interests, full attention to
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