By Alexander Barthet

Warren Alter with the Alter Surety Group spoke to a packed house at the Miami Construction Forum’s session  on why and when you need to use surety bonds.

Bonds are a risk transfer mechanism, especially important in the construction industry where the failure rate has historically been some 30% annually.

Surety companies paid out almost $14 billion dollars from 1995-2014 due to contractor defaults, with $84 million in losses being paid out in 2014 on private construction jobs gone bad.

The Forum (  meets the 3rd Wednesday of each month, bringing in experts to share their knowledge on topics of current interest to those in the construction industry.  Interested in attending – contact Narcy at

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