The Little Miller Act is a state statute which is based upon the federal act known as the Miller Act. These acts are vital for regulating the performance bond and surety industries in states, and making sure that contractors can fulfill their responsibilities to not just their clients, but to their ...
Author: UpworkDev
Technology and the Construction Industry: The Coming Thing
Technology is a fact of life in every industry everywhere these days. You quite simply cannot get by, let alone remain competitive, without adopting the latest technologies in at least some aspect. Our entire society is ruled by and dependent upon technology in a way that it wasn’t, just ten years...
Construction Industry Outlook
2016 in many ways was a banner year for the construction industry with spending far up, to the tune of over 6% across the board in nonresidential construction and over 10% in residential construction. Because of this bounce-back, analysts had high hopes for 2017, especially since Federal policy was ...
2018 Construction Trends
Just like any business and industry, the construction industry follows trends in building that change from year to year. To remain competitive and solvent in the business, it’s essential to keep on top of the big coming thing. Unfortunately, the way these fads and trends move, it can sometimes be ...
Virginia Little Miller Act
As you pursue your contracting business, you’re going to have to face the need for bonds of various types sooner or later. Every contractor needs to be bonded to bid on certain types of project. In fact, at the Federal level as well as in many states bonding is legally required for any public proj...
Important Questions and Answers about Construction Surety Bonds
Just about every contracting and service business knows how important surety bonds are to your ongoing solvency and practice. Whether you’re a major contractor or a small startup, having surety bonds enables you to stay competitive, engender trust among your clients and grow your business. Even mo...
Solar Construction Trends Shaping the Industry
Not only is the construction industry hazardous, but it’s constantly uncertain. Trends in the industry are constantly changing, and businesses have to stay on top of every new development to remain competitive, and to stay solvent and profitable. Currently, it looks very much like the future is in...
Surety Bonds vs. Letters of Credit
When it comes to securing your business and protecting your customers, there are a range of options available, and the majority of businesses use some combination of several. The three most well-known are insurance, letters of credit, and surety bonds. Of these three, the two that can be the most co...
How Surety Bonds Protect Customers
You might be amazed at just how often you’ve been protected by a surety bond. Have you ever bought a home? Purchased a car? Hired a contractor for repair services? Have you ever gone out to a bar or club with friends? If so, a surety bond has been in place to protect you. These … Read More
