Surety Bond Professionals is a family owned and operated bonding agency with over 75 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your construction bond needs.
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Forecasting demand in the construction industry is a complicated matter, influenced by economic conditions, government policies, and the dynamics within each industry sector. The prevailing attitude—optimism or pessimism—in the residential and nonresidential sectors may differ. The relationship between construction backlog and sectoral optimism (or pessimism, as the case may be) is particularly significant. This article explores the relationship between nonresidential construction backlog and optimism within the sector, explaining how backlog is measured and tracked.
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The National Asphalt Pavement Association (NAPA) is a trade organization that represents the interests of the asphalt pavement industry in the United States. Founded in 1955, NAPA is dedicated to supporting the sustainability, quality, and innovation of asphalt pavements. Its members include asphalt producers, contractors, suppliers, and equipment manufacturers.
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The outlook for residential construction from mid-2024 through 2025 appears cautiously optimistic, influenced by key indicators such as housing demand and mortgage interest rates.
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Advanced technologies are transforming the construction industry. Drones equipped with high-resolution cameras and sensors are among the first advanced technologies adopted by many construction companies for the unprecedented insights they can provide into construction sites. Leveraging drone-acquired aerial imagery enables builders to make more informed decisions, reduce waste, and minimize their environmental impact, all of which promote sustainability in construction.
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Safety in construction has a direct impact on surety bonds in the industry because it influences a project’s risk profile. Surety bonds guarantee that a project will be completed according to the contract terms, and using unsafe practices could break said terms. By using safe practices, contractors reduce accidents, delays, and legal issues, which may lead to interruptions or increased costs to the project. This can increase the risk for surety bond providers, making it harder for firms to secure bonds. With that said, here are our top 10 tips for concrete safety in construction.
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The U.S. Environmental Protection Agency (EPA) and the California Air Resources Board (CARB) have established stringent regulations for emissions in construction, set to take effect in 2027. These regulations aim to significantly reduce greenhouse gas emissions and other pollutants from heavy-duty vehicles used in construction and other industries. Clearly, this development will have a significant impact on the construction industry and resulting bonds.
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Every three years, forward-thinking professionals from a wide range of industries gather from around the world to attend NPE to learn about innovations in plastics that are driving business growth. NPE24, held in Orlando, Florida in May of this year, featured more than 2,100 exhibitors showcasing cutting-edge plastics technologies, many of them for use in building and construction.
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Automated grade control is a technology used in construction to ensure precise grading and leveling of the ground for various projects, such as road construction, building foundations, and landscaping. Automated grade control systems make the necessary adjustments to a bucket or blade automatically for greater accuracy in grading and a more efficient grading process. They eliminate guesswork and human error so the target depth is reached faster with fewer passes.
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