Posted on: 11 March 2021
As a construction company owner, you must ensure that each project that you accept is a success. Your business's success and profit, however, depend largely on how well that you manage your money, what steps you take to minimize your losses, and the quality of contractors that you hire to work for you.
Because you have so many obligations facing you during each project, you may need help managing these important factors. Instead of trying to handle them on your own, you can hire an experienced construction surety lawyer to advise and assist you.
Avoiding Serious Monetary Losses
A construction surety lawyer functions primarily to minimize the amount of money that construction company owners like you lose during projects. Small losses due to ruined materials or delayed deliveries may not be able to be helped. However, you must stay ahead of risks that can cost you tens or hundreds of thousands of dollars.
These losses can stem from on-the-job accidents that result in workers filing expensive workers' comp claims. They can also result from fires or theft that reduce the number of materials available to your crew. When you hire a construction surety lawyer, they can advise you on how to mitigate these liabilities and reduce the chances of your company sustaining them during a project.
Offering Contract Advice
A construction surety lawyer can also advise you before signing contracts with clients. You need to understand fully what is expected of your company and you as its owner. You also want to know how long that you have to work on a project, what materials that you need to use, and even how many contractors that you need to hire for the work.
Your construction surety lawyer can create and read through the contract to ensure that your company's best interests are protected. They can advise you on if or when to sign it.
Finally, a construction surety lawyer can verify the bonding and licensing of general contractors and subcontractors that you hire. They can make sure that they have the state-required credentials to work and bring with them the financial and legal protections needed to safeguard your company.
A construction surety lawyer can provide vital services to your company. They can devise strategies to minimize your financial losses. This attorney can also advise on contracts and ensure contractors have licensing or bonding.
Contact a local construction surety lawyer to learn more about the available services.Share