Construction experience teaches us that an improving economy lifts some boats but may sink others. Ironically, the most vulnerable time for construction suppliers and trade contractors to fail is when the economy and construction activity improves.

Contractors are now navigating increased obstacles they have never faced before, such as the lingering effects of COVID-19; vaccine mandates; supply chain delays and disruptions; and the lack of necessary equipment, materials, and labor workforce – any one of which, alone, could threaten the performance and existence of previously-healthy companies.

This 90-minute webinar will explore how these dangers, if not correctly and proactively addressed, could lead to an increasing number of subcontractor defaults and bankruptcies; how subcontractor defaults and bankruptcies may impact a contractor and its projects; and what contractors should do to mitigate and manage these critical risks, including the risk of non-payment from a financially distressed owner.

You will learn:
• Best practices to prequalify your partners to minimize the risks
• Tell-tale signs of financial distress; and proactive steps you should take to mitigate this risk once it arises
• Insights reflected in newly revised ConsensusDocs performance and payment bond forms that provide innovative provisions you should consider incorporating.

*Please note there is a cost to attend.