For an update on material house (or performance) bonds that are offered to qualified general contractors and owner/builders for single-family residential projects, Building Industry Magazine came to HPM. We have been offering this type of bonding for more than seven decades.
Finance, Bonding and Insurance: More Capital, More Confidence – More Projects
By Lee Schaller, Associate Editor, Building Industry Magazine
Last year at this time, we were told by those in the finance, bonding and insurance marketplace that the construction industry had begun to move forward, "but at a very slow pace." There seemed to be "a potential for more private projects and military spending." "But we are still not out of the woods," we were cautioned by some members of the financial sector, while others felt 2012 would be "another very profitable year."
So where are we today? Is there basic agreement as to the availability of financing, bonding and insurance? Is the improved economy (albeit with some uncertainty at the federal level) making it a little easier to get projects off the ground? Here is what we discovered: