Monthly Archives: September 2016

CONSTRUCTION BACKLOG INDICATOR SHOWS OVERALL DIP

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Construction Industry News on Sep 24, 2016.

The Construction Backlog Indicator, or CBI, is a tool that measures backlog as an indicator of the health of the construction industry. The CBI is presently offering mixed signals to the market. While multi-national and large construction firms are showing the largest backlogs in history, this seems to correspond with a decrease in backlog for medium sized and small contractors.

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Sureties to the Rescue: Maintenance Bonds Suggested As Remedy to Allow for Timely Release of Retainage

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Pending Legislation on Sep 20, 2016.

The Pennsylvania state legislature has spent considerable time over the last 2-3 years addressing issues in the construction industry. One of the more recent changes under consideration are amendments to the Pennsylvania Contractor and Subcontractor Payment Act. This statute, which is designed to ensure prompt payment on private projects in Pennsylvania, contains a number of provisions that are in need of update. At least one of the proposed changes will have a direct impact on the surety industry.

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Surety Trivia

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in General on Sep 9, 2016.

Surety contracts have become a signficant part of the construction marketplace; and there is a plethora of law surrounding how they work.  But can you guess the oldest known reference to suretyship in a written legal code?

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Surety Mistakenly Negates Its Own General Indemnity Agreement

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in General Agreements of Indemnity on Sep 6, 2016.

Disputes between entities involved in construction projects often involve a number of different companies with different roles on a project. These different roles, and resulting relationships, inevitably lead to different contracts with competing contractual provisions. For the unsuspecting, this can lead to a battle of forms that may create problems of disastrous proportions. A recent federal court opinion issued in Nevada illustrates the point.

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Celebrating Labor Day

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in General on Sep 5, 2016.

Wishing all those who work so hard to help build this country and make her great a wonderful Labor Day. Thanks for all you do and for letting Kaplin Stewart be part of your great industry.

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