Bond Expert in Construction Surety

Case Description:

A bond expert was needed for an action filed by an international surety company against a construction company to recover monies paid out as reimbursements to subcontractors and suppliers. Initially, the plaintiff issued construction surety bonds for commercial construction projects. When defendant could not obtain commercial lending with the bonds, the plaintiff provided financing to the defendant. The plaintiff subsequently took control of construction management to avoid default in the contracts and loss of its surety bonds. The surety managed the construction projects poorly and the defendant incurred significant losses as a result.

IMS ExpertServices sought a surety bond expert associated with the construction industry who possessed a deep understanding of construction payment and performance bonds, indemnity contracts, workouts, industry standards, and lender liability. This bond expert would determine how the construction surety did business and if their actions to finance the contractor entailed liability.

Experts Presented:

  • Surety Financial Expert

    This bond expert has been working in the construction industry for more than 30 years. His focus is surety accounting, contract administration, and claims. He directed the national construction industry program for one of the largest accountancies in the world. As a surety financial expert he audits and examines underwriting and claims processes, oversees workout programs, and has trained more than 400 surety underwriters. He is sought after as an experienced expert witness and surety claims consultant in the construction and surety industry. He is also considered an expert in credit analysis and business valuation. IMS Reference #4202093

  • Surety Bonds Expert

    This bond expert has 25 years of experience in surety bonding for contractors and developers and special hazard insurance as credit enhancement for mortgage backed securities. He is founder and CEO of his own contract surety and bond agency. As a CPCU, this bond expert has been an underwriter, manager, and executive in all aspects of surety bonds and insurance coverage. He authored five chapters of the Insurance Institute of America’s textbook for surety education. He is an experienced expert witness with legal training in torts, contract, criminal law, and civil procedure. IMS Reference #1573408

  • Surety Bonds Expert

    This bond expert has years of financial engineering, surety bond, and reinsurance experience in the construction industry. He specializes in the areas of organizational analysis, construction cost management, accounting and financial issues, and strategy development. Speaking frequently for construction associations, surety gatherings, and professional meetings nationwide, he has acquired an astute ability to convey difficult construction, insurance, and financial topics to laypeople and professionals. This expert in construction finance holds a master's degree in business administration, a bachelor's degree in financial management, and the titles of Chartered Property & Casualty Underwriter (CPCU) and Associate in Reinsurance. IMS Reference #1591740

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