Va. is first to adopt state-level safety standard for construction, other employers during pandemic | Communication vital to ensure contractors endure impact of pandemic, hurricane season | Report: Contractors should adopt safety practices, diversify supply chains, review contracts
July 29, 2020
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Leading News
Virginia has become the first state to implement an emergency temporary standard for all employers, including construction companies, amid the coronavirus pandemic. One requirement of the standard is providing hand sanitizer or hand-washing facilities if enforcing social distancing is not feasible.
Full Story: Construction Dive (7/28),  Smith Currie (7/16) 
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The construction industry faces a dual challenge this hurricane season, as its preparations for and response to potential damage will be complicated by pandemic precautions, two attorneys write. Communication is crucial, and owners and contractors need to collaborate, they write.
Full Story: Daily Business Review (Miami) (tiered subscription model) (7/22) 
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Continuity Planning: Situations & Lessons From the Field
A business continuity plan can help to ensure a smooth transition when a company changes hands. This is especially the case if an owner dies suddenly. A formal plan gives the company's family, employees, and customersā€¦ and the surety, assurances that the company will be able to stay in business. Read Moreā€¦
Industry News
Report: Contractors should adopt safety practices, diversify supply chains, review contracts
A construction worker sanitizes job-site washing facilities on May 27 in Uniondale, N.Y. (Al Bello/Getty Images)
A survey by an accounting firm found strategic planning and securing skilled labor among contractor priorities for the year ahead. The firm suggests that contractors should adopt coronavirus-related safety measures, address contractual language and ensure diversity in supply chains.
Full Story: ForConstructionPros/Marcum (7/23) 
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A lawsuit filed in federal court alleges that a group of companies conspired in a bid-rigging scheme to inflate interior construction costs in the New York City metropolitan area. According to the lawsuit, the alleged scheme ran from 2010 to 2018 and led to hundreds of millions of dollars in lost bids for subcontractors.
Full Story: Legal Newsline (7/23) 
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Risk & Compliance
A car-washing company has become the first gig company sued under California's AB5 law over allegations of misclassifying workers as independent contractors. The lawsuit also says the company has not registered with the state Labor Commissioner's Office or provided a mandatory $150,000 surety bond.
Full Story: Lawyers and Settlements (7/23) 
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Association News
NASBP Blog: Catch up on the NASBP "Let's Get Surety!" podcast episodes
NASBP Blog: Catch up on the NASBP "Let's Get Surety!" podcast episodes
This NASBP Blog brings you a convenient list of the 17 free episodes that have aired to date on the NASBP podcast "Let's Get Surety," since the podcast launched in March. "Let's Get Surety" episodes, which are about 20 minutes each, feature industry leaders and experts sharing their insider perspective about the surety industry in a fun and engaging conversation with NASBP's podcast host Kat Shamapande and her co-hosts. This NASBP blog provides a short description, guests' names and firms, photos, and links to each episode. Consider sharing a link to several with clients. Read more. Listen to the podcast here or on your favorite podcast app.
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Aug. 18 NASBP Virtual Seminar -- Cryptocurrencies and Money Transmitter Bonds
Aug. 18 NASBP Virtual Seminar -- Cryptocurrencies and Money Transmitter Bonds
Miceli, left, and Quintilian (NASBP)
The next NASBP Virtual Seminar, "Cryptocurrencies and Money Transmitter Bonds in an Unpredictable Economic Environment," will be held at 2 p.m. Eastern on Tuesday, Aug. 18. The presenters, Amanda L. Miceli of Chiesa Shahinian & Giantomasi PC and Joseph Quintilian of Distributed Capital Partners and MakerDAO, the builders of the cryptocurrency Dai, will focus on cryptocurrencies and money transmitter bonds, including the state of cryptocurrencies both pre- and post-pandemic. The presenters will also address licensing and regulation of money transmitters on a state-by-state basis while analyzing potential impacts on these bonds in today's economic climate. Register for this stand-alone NASBP Virtual Seminar or register for the NASBP 2020 Virtual Seminar Annual Subscription, the entire set of Virtual Seminars for 2020, and save! This Virtual Seminar is sponsored by Old Republic Surety. Register.
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NASBP podcast "Let's Get Surety" takes a closer look at bankruptcy
NASBP podcast "Let's Get Surety" takes a closer look at bankruptcy
Schexnayder (NASBP)
There's a new episode of the NASBP podcast "Let's Get Surety!" This episode, titled "A Closer Look at Commercial Surety Account Bankruptcy," features guest Chad Schexnayder, Partner with Jennings, Haug & Cunningham, LLP, who regularly represents surety clients in bankruptcy cases throughout the US. Schexnayder discusses the commercial surety account sectors that are being hit hardest by bankruptcy, as well as red flags before a company files for bankruptcy. He also shares how sureties can work to avoid "clawback" and the importance of documentation and communication among the surety, bond producer and commercial surety client to control risk. Access this and other "Let's Get Surety" episodes from any of these systems: Apple Podcasts, Google Podcasts, Spotify, Stitcher or SuretyLearn. Be guaranteed to succeed!
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Trends & Technology
The aspects of the the Paycheck Protection Program deserving particularly close attention from borrowers include the covered period for their loans and the forgiveness calculation, attorneys write. Other important factors include what payroll and nonpayroll costs, including rent, are eligible for forgiveness.
Full Story: JD Supra/Schwabe, Williamson & Wyatt (7/24) 
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Opinion Poll
How long is the decline in nonresidential construction spending likely to last?
One to three months
Three to six months
Six months to a year
A year or longer
Are other states likely to follow Virginia in adopting an emergency temporary standard for construction and other employers during the coronavirus pandemic?
VoteYes, many are
VoteYes, some are
VoteNo, few are
VoteNot sure
Some people do know more than others. That contributes to the impression that someone, somewhere, knows the whole thing.
Shirley Hazzard,
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Founded in 1942, NASBP is the association of and resource for surety bond producers and allied professionals. NASBP producers specialize in providing surety bonds for construction contracts and other purposes to companies and individuals needing the assurance offered by surety bonds.

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