Peckar & Abramson’s Miami Office Hosts Peer Conference on Subcontractor Default Insurance and Performance Bonds
Peckar & Abramson’s Miami office will be hosting a Peer Conference titled: “Managing and Mitigating Risk and Impact of Subcontractor Defaults: Subcontractor Default Insurance and Performance Bonds”. The conference will be held on November 11, 2015 from 8:00 am to 10:00 am, in the Miami office conference center. Gregory H. Chertoff, a partner in the firm’s New York office and Gary M. Stein, a partner in the firm’s Miami office will lead the discussion. The program will focus on strategies to manage and mitigate the risk and impact of subcontractor defaults and the use of Subcontractor Default Insurance (SDI) and traditional payment and performance bonds. The discussion will include the pros, cons and pitfalls of submitting SDI and bond claims; cash flow considerations; the benefits and risks of SDI and bonds; how to harmonize contractual default/termination procedures with conflicting bond form requirements; calculating and presenting claims to both SDI carriers and sureties; and claims for the cost to complete and delay.