Bonding and Banking: How to Mitigate Construction Risks

Taking the risk out of a risky business

Seminar Overview
Construction is a risky business. Contractors want and need to make a profit on each project; owners want the contract fulfilled, and construction lenders want repayment of the loan on time, in full, and as agreed. So how do all parties mitigate risk and ensure successful project completion?

One way to lower the risk on a construction project is to require bid, performance, and payment bonds as conditions of the loan. In this seminar, practicing bond professionals will provide an overview of the bonding process—offering insights from the surety’s perspective. A senior credit policy banker will speak about lending issues.

This Web seminar explains the role that bonding plays in underwriting construction risk.

Length: 51 minutes

Who will benefit?

Bankers:

• Lenders
• Credit approval officers
• Risk managers
• Others charged with managing, monitoring, and mitigating construction risk

Surety professionals:

• Surety company underwriters
• Claims personnel
• Surety bond producers
• Contractors
• Subcontractors who want to learn more about surety
• Risk managers who work for:
  • Contractors
  • Public owners
  • Private owners
  • Insurance agents
• Office staff

You will:

• Get an overview of the current surety market.
• Learn how surety bonds mitigate and diversify construction risk.
• Find out about different types and uses of surety bonds.
• Learn the roles of the surety company and surety bond producer.
• Examine the surety pre-qualification process.
• Review bonding and letters of credit—the similarities and differences.
• Explore the major causes of contractor failure.
• Get insight into managing the claims process.

Recorded Web seminars are:

• Cost-efficient and convenient—there’s no travel time, travel expenses, or time out of the office.
• Available 24/7.
• Risk-free—you can go back and listen as often as you like within 30 days from the date of purchase.
• Safe and secure—only those enrolled and having the user ID and password can access the course.
• All you need is an Internet connection.

Workstation Requirements

• Windows Media Player
• Internet Explorer version 5.5+ with JavaScript and cookies enabled.
• 800 x 600 screen resolution.
• Internet connection (high-speed broadband connection recommended).
• Display driver settings: 16-bit color or better; font set to “Standard” or “Small.”
• Speakers or a headset.

Proxy/Firewall Settings

• Port 80 must be open both incoming and outgoing.

RMA-CRC: 1 CEU

Please allow one business day to receive Web seminar access information via e-mail.