The looming threat of a recession in the U.S. should serve as reminder to members of the construction industry that insolvency risks are real and need to be kept top of mind when moving forward with new construction projects. In my latest article for the Daily Journal of Commerce, I look at several options available to project owners and contractors to mitigate the risk of insolvency, including to obtain performance or payment bonds, structure payments based on the contractor hitting milestones throughout the project, and acquire subcontractor default insurance. You can read the full article here.
Originally published as an Op-Ed by the Oregon Daily Journal of Commerce on July 14, 2022.