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A street renovation project in Miami has been delayed because of a dispute between a construction company and city officials. A surety has selected the same construction company to finish the project and is in negotiations for workers to return to the jobsite, a city commissioner said.
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As bond managers, we always look for ways to help our agents, contractors and project owners better understand surety. From time to time we do get the occasional cringe worthy moment! It just underscores how necessary education still is in the bonding world. Here are my top five cringe worthy surety conversations and their "translations." Maybe you have your own list as well. Read More
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The One Big Beautiful Bill Act includes tax changes that can have a big impact on construction firms' strategies to maximize deductions. Key provisions include the permanent extension of 100% bonus depreciation and immediate deductions of domestic research and experimental expenses. The act also permanently raises the estate and gift tax exemptions.
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| An intelligent inspection robot operates as a security guard at an underground pipe gallery project site in Xi'an, China, on May 28, 2018. (Vcg/Getty Images) |
The construction industry has invested heavily in digital tools such as digital twins and building information modeling, or BIM, but a disconnect persists between digital design and physical execution, resulting in costly errors and rework, a robotics company executive writes. Automation and robotics can provide the continuous, verifiable data from the field that is necessary to resolve the disconnect and improve project outcomes, the executive writes.
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| Are your construction contractor clients using automation and robotics to obtain continuous, verifiable field data for digital twins? |
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Data centers "are mission-critical facilities," and owners and contractors working on such projects are focusing on contractual risk management in areas such as liquidated damages, force majeure clauses and indemnity provisions, two attorneys write. "Liquidated damages provisions safeguard owners against costly delays," while "force majeure clauses provide relief from global uncertainties and indemnity provisions protect against third-party and environmental liabilities," the attorneys write, emphasizing the importance of "proactive negotiation and precise drafting."
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| Leadership & Best Practices |
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If you want to drive organizational change, empower your middle managers to model and reinforce new behavior with their teams, rather than relying on top-down directives, a leadership coach writes. Prepare managers for the role with targeted coaching, peer-based cohorts for accountability and mentoring from senior leaders, he writes.
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