How can a simple decimal point cause such problems? Put it in the wrong place and have someone try to ignore it or miss it because they didn't read their contract.
Bond underwriters have a lot of things to worry about when they're approving bonds for construction projects. Whether the bonds are for a $100,000 or $100,000,000 project, they need to be sure they're making the right decision. Unlike insurance, the assumption is there will be no losses on a bond. If there are, the underwriter will have some explaining to do. Some of the things they worry about most are listed below.
Anyone who works very long in the construction industry eventually spends part of some night staring at the ceiling trying to figure out how they’ll handle a problem that WILL require attention.When I spent 20 years helping build projects, there were some wide-awake nights. As a bond agent, there are also
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Cheating construction contractors
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