Primary Reasons To Retain An Experienced Construction Surety Lawyer
Posted on: 12 January 2021
As a construction company owner, you take on a number of legal liabilities every time you start a project. You need to lower the risk that you could be sued or found criminally or financially negligent. You must identify and mitigate these risks before you start your work.
To safeguard you, your company and its employees, you can hire legal representation to advise you during the project. You can benefit by putting an experienced construction surety lawyer on retainer for your business.
Developing a Loss Avoidance Strategy
One of the largest liabilities that you take on during a project is the potential for significant monetary losses. If the project does not proceed according to plan, you could easily lose money on everything from materials to deposits and contractor fees.
To ensure that you suffer few, if any, losses, you can retain a construction surety lawyer to advise you. Your attorney can counsel you on developing a loss avoidance plan that will protect your money and make, rather than lose, your company money. You can finish the project without suffering expensive losses that set back your company.
Counsel on Bonding Issues
An experienced construction surety lawyer can also provide advice on matters involving bonding. You may be required to have certain workers on the job site bonded. You especially need to ensure that contractors like electricians and HVAC technicians have the right bonding in place to work on the project.
If an issue comes up with their bonding, you can hand off the matter to your construction surety lawyer. Your attorney can determine if the contractors' surety is responsible for any monetary damages owed to the project's owner. He or she can also defer that responsibility to the bonding issuer rather than to your own company's insurance policy.
Handling Contract Disputes
Finally, your construction surety lawyer can handle contract disputes that arise during the project. You may have dozens of contracts that you abide by as you work. These contracts may exist between you and your contractors, as well as with the client that owns the project.
If a dispute arises, you can have your construction surety lawyer represent and advise you. He or she can protect your best interests and safeguard you from financial and criminal negligence.
A construction surety lawyer can provide valuable services. He or she can counsel on loss avoidance, bond issues, and help with any contract disputes. Contact a construction surety lawyer in your area to learn more.
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