Smith, Currie & Hancock LLP Document Search Results (44)
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|Procedural Differences for Claims on Standard Form Performance and Payment Bonds|
Jonathan R. Mayo; Smith, Currie & Hancock LLP;
September 5, 2014, previously published on September 2, 2014Construction suretyship is a three-part relationship in which a surety provides performance and payment bonds guarantying the performance of a contractor to an owner and the contractor’s subcontractors and suppliers. A contractor may also demand performance and payment bonds from its...
|Discretionary Protection - State Bonding Requirements in P3 Projects|
Vianney Lopez; Smith, Currie & Hancock LLP;
August 25, 2014, previously published on August 19, 2014Public-private partnerships (“P3s”) have become an increasingly popular procurement method for public projects. P3s refer to the partnership between a public government agency—which can be federal, state, or local—and a private entity. The private entity’s role in...
|Minimize the Inherent Risk in "Scope Bidding" by Amending Your Form Subcontract|
Eugene J. Heady; Smith, Currie & Hancock LLP;
August 12, 2014, previously published on August 8, 2014Subcontractors must exercise particular care if the project specifications are performance specifications or otherwise described by so-called “scope” criteria. A scope specification is one that describes the general scope of the project in terms of design, dimension, and major...
|A Primer on the Miller Act's Federal Bonding Requirements|
Daniel M. Carrico; Smith, Currie & Hancock LLP;
August 11, 2014If you have ever been involved with a federal construction project—either as a contractor, subcontractor, supplier, or surety—you have probably had to deal with the Miller Act. That’s not surprising. Few pieces of legislation are more ubiquitous when it comes to construction work...
|Contract's Notice Provision Bars Claim for Extra Work|
James K. Bidgood, Jay R. Houghton, Joseph Young; Smith, Currie & Hancock LLP;
July 22, 2014, previously published on July 7, 2014The United States Court of Federal Claims recently held that a contractor’s claim for additional compensation for a change should be denied because the contractor failed to satisfy its contract’s written notice requirements. K-Con Building Systems, Inc. v. The United States, 114 Fed....
|An Overview of the Difference Between Indemnity Obligations and Obligations to Provide Additional Insured Coverage|
Smith Currie Hancock LLP;
July 18, 2014, previously published on July 7, 2014One of the most important risk-shifting devices in a construction contract is the indemnification provision because it protects one party from financial loss and damages arising from future problems occurring during the project. Indemnification is a promise that one party will make good on any...
|Anti-Indemnification Statutes and Their Impact upon Insuring Indemnification Obligations Versus Those of an Additional Insured|
Jay R. Houghton; Smith, Currie & Hancock LLP;
July 18, 2014, previously published on July 7, 2014Construction projects are inherently risky endeavors. A myriad of things that can go wrong range from damaging a tree on neighboring property, to the structural failure of a completed building, and the loss of limb or life. One of the most important reasons one enters into a contract while...
|ISO 2013 Additional Insured Endorsements Revisions - What the Construction Industry Needs to Do|
Nicholas H. Ceavers; Smith, Currie & Hancock LLP;
July 18, 2014, previously published on July 7, 2014New risks associated with recent revisions to the standard ISO Additional Insured endorsements language have not been addressed by many in the construction industry. Although these revisions occurred in April of 2013, many participants in the construction industry have failed to take adequate...
|Public Policy Limitations on Indemnity for Sole or Partial Negligence|
Stephen J. Kelleher; Smith, Currie & Hancock LLP;
July 18, 2014, previously published on July 7, 2014Contractors often develop standard contracts for use on a variety of projects, tailored most often to the demands and particular needs of the owner and the project involved. Often these standard contracts include indemnification provisions that require the subcontractor to indemnify the general...
|SBA Increases Small Business Size Standards for Construction|
Stephen J. Kelleher, Steven L. Reed, Alan I. Saltman; Smith, Currie & Hancock LLP;
July 9, 2014, previously published on June 19, 2014In an interim rule published June 12, 2014, effective July 14, 2014, the Small Business Administration has updated its revenue based size standards for small businesses. Citing the need to adjust the size standards due to inflation at least once every five years, SBA made the first adjustment to...