Construction and Code Consultants

[Tri-State Consultants]

I know that no bonding company wants to ever have any trouble with a Performance or Payment Bond. But there is a point in time when a few do have problems.

Do bonding companies use in house people or do they ever consult with outside sources such as a construction or code consultant to have them look at the status and/or quality of the job.

Even when a job is going good, I would think a bonding company would want a inspection report advising them of the actual status of a project in addition to the quality or anything that might be starting to be a problem.

Your feedback is appreciated.

Thanks,

Frank C. Morris, CBO, CEAP, MCP
Tri-State Consultants

[Riskwriter]

A good question-

In fact depending on the size of the surety, many do have internal claims people that have background in engineering & construction. These individuals are called in to the job site to do an analysis of the job. They can determine how much of the job is in the gound, how much it could cost to complete the project and of course they evaluate how money is still being held by the obligee. The worst situation of course is when the job has a considerable amount of work to be completed with minimal finds being held still by the owner.

Many smaller bonding companies contract with outside consultants. This is what I feel is normally the best situation as a 3rd party not related to the situation at hand, is now in responsible for the job review.

Hope that helps!

[Unregistered]

Hello,

I am seeking to communicate with the Detoit , Mi office of the Toronto Surety company. Can anyone assist me?

Thanks,

Stefan Levy
steflink@ameritech.net
847-462-5980

[Admin]

Stefan,

Please start a new post if you are not contributing to the topic at hand. You will findthat you get more responses when creating a new topic instead of asking a question in one that is not relevant to your question.

I would try doing a search on www.msn.com