COVID-19: Contract Clauses Construction Contractors Should Know
For construction contractors, the impacts of the coronavirus crisis will be felt long after the quarantine is lifted. Here are a few simple steps to minimize the impacts from our Surety Legal Counsel, Rob Duke.
A concurring opinion in the case agreed with this principle, but used its opinion to suggest that a surety that remedies a default by some other means (other than a takeover agreement) should have standing under the Contract Disputes Act.
MTA Debarment Regulations Create Risks for Contractors
On June 5, 2019, the New York Metropolitan Transit Authority (“MTA”) issued regulations on an emergency basis that implement a harsh debarment framework that was established by statute, section 1279-h Public Authorities Law.
As surety bond professionals, we are in the risk business. A critical factor in the success of a surety company or a bond producer is properly assessing and managing the risk associated with a surety bond. Legal issues and risk are inseparable.
Surety is one of the few businesses where the product we sell - the bond - is exactly the same for all companies. People are a key differentiator. As our customers are becoming more diverse, the surety industry is challenged to increase diversity. Otherwise, we will be left behind.
The energy markets are driven by liquidity. Counterparty, credit, and market liquidity are all significant to operations in both the real-time and long-term regimes. All of these types of liquidity are balanced against the seemingly endless list of risk categories.
Oil Pricing and Volatility in a Macro and Micro View
On September 24, 2018, global oil prices hit a four-year high of $81.20/b (Brent) after OPEC promised to keep production steady. Investors believed that U.S. sanctions against Iran and outages in Venezuela would lead to supply shortages. But by mid-November, prices fell 18 percent, and have continued a decline.