Wednesday, April 11, 2012

Chicago Construction Law Blog

Jim McConnell out of Chicago, who owns Construction Law Services, LLC and blogs at the Chicago Construction Law Blog has an interesting series of posts today dealing with several failed projects in which surety companies and owners are scrambling to replace contractors who have defaulted on bonded projects.  You can follow the link below to read more.

I was intrigued by the failures as each case reinforced in my mind the need to bring the various financial stakeholders together as integrated team members early in the process.  In January, when I presented in Vancouver, Calgary and Edmonton, we invited lenders, insurers and sureties to join the conversation.  A number of bankers attended, but no insurers and no sureties were represented.

The failures documented in McConnell's post involve multiple multi-million dollar projects and highlight the need for better communication between project teams and their sureties.

Chicago Construction Law Blog

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James L. Salmon, Esq.
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I think there are some other issue lie in front of failures documented in McConnell's post involve multiple multi-million dollar projects like management and teams oriented goal.

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