ConsensusDocs is a Member Benefits partner for RCA members.

Managing Subcontractor Default, Bankruptcy, and Owner Insolvency in a Recovering Post- COVID-19 Construction Economy

How to Mitigate Risk When A Rising Tide May Not Lift All Boats

Construction experience teaches us that an improving economy lifts some boats but may sink others. Ironically, the most vulnerable time for construction suppliers and trade contractors to fail is when the economy and construction activity improves.

Contractors are now navigating increased obstacles they have never faced before, such as the lingering effects of COVID-19; vaccine mandates; supply chain delays and disruptions; and the lack of necessary equipment, materials, and labor workforce – any one of which, alone, could threaten the performance and existence of previously-healthy companies.

This 90-minute webinar will explore how these dangers, if not correctly and proactively addressed, could lead to an increasing number of subcontractor defaults and bankruptcies; how subcontractor defaults and bankruptcies may impact a contractor and its projects; and what contractors should do to mitigate and manage these critical risks, including the risk of non-payment from a financially distressed owner.

You will learn:

• Best practices to prequalify your partners to minimize the risks
• Tell-tale signs of financial distress; and proactive steps you should take to mitigate this risk once it arises
• Insights reflected in newly revised ConsensusDocs performance and payment bond forms that provide innovative provisions you should consider incorporating.

Speakers:

G. Marshall Kent Jr., Partner, Fox Rothschild, LLP
Rachel Walsh, Regional Vice President, Surety Claims – Northeast Region for Liberty Mutual Surety
Philip E. Beck. Partner, Smith Currie and Hancock LLP

Members of a ConsensusDocs Coalition Organization Price: $79.00*
ConsensusDocs Subscriber Price: $49.00*
*You will need to utilize a custom coupon code at checkout to receive the discount. The RCA Member discount was sent via email; contact [email protected] if you did not receive it.

Click here to register