Michael C. Zisa, partner and chair of Peckar & Abramson’s Surety and Construction Related Insurance Defense practice, and Joshua A. Morehouse, a senior associate in P&A’s Washington, DC office, have written “What You Need to Know About Joint Ventures in the Construction Industry,” a three-part series of in-depth articles for the National Association of Surety Bond Producers (NASBP).
The first article in the series provides an introduction to joint ventures, with an explanation of the benefits and risks of this arrangement for contractors and how to choose a joint venture partner. The second article examines the joint venture agreement and describes provisions that should be included in the agreement and why. The third and final article examines joint ventures involving the federal government’s small business programs and the potential liability sureties could face if these programs are misused.
Read the articles here.