Subcontractor default is a construction project nightmare that can result in significant additional costs and delay completion of the project. But there are two chief options to protect against such risks — performance bonds and subcontractor default insurance.  In my recent article for the Daily Journal of Commerce, I outline the unique characteristics of each of these options and address project consequences.  Read the full article here.

 “Protections Against Subcontractor Defaults” was originally published by the Daily Journal of Commerce on Friday, November 20, 2015.

 

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Andrew Gibson helps his clients build successful projects and negotiate and resolve disputes. As a partner in Stoel Rives’ Real Estate, Construction and Design practice, Andrew is experienced in drafting and negotiating all forms of project documents, from the design phase through construction…

Andrew Gibson helps his clients build successful projects and negotiate and resolve disputes. As a partner in Stoel Rives’ Real Estate, Construction and Design practice, Andrew is experienced in drafting and negotiating all forms of project documents, from the design phase through construction, and regularly  assists clients with navigating the typical tricks and traps of contracting and insurance coverage issues. He is also a veteran of a variety of legal proceedings and has successfully pursued construction defect claims, insurance and bond claims, bid protests, stop payment notices, mechanic’s liens, real estate disputes, and collection actions through mediation, arbitration, and litigation.