Our talented team of construction, engineering, accounting, and architectural professionals have worked on thousands of payment and performance bond claims that, in aggregate, relate to billions of dollars of work and that spans every sector and every division of construction. In addition, we have served as a completion contractor on projects of all sizes that are located throughout the globe.
Forensic Accounting Services
VERTEX provides construction accounting analysis including complete exposure analysis, joint control account administration, payment bond claim accounting, claim payment administration, accounting software analysis, financial statement evaluation, asset evaluation, salvage valuation, budgeting and cash flow analysis, payroll monitoring, prevailing wage and labor claims, income payroll and sales/use tax analysis, accounting office supervision, interim CFO and accounting staff, cost to complete estimates, construction delay cost analysis, claim and lien release negotiations, and specialized surety reports. VERTEX provides the expertise in construction and fund accounting to meet and exceed client expectations.
Performance Bond Claim Consulting
VERTEX has a deep bench of experienced surety claims professionals that have worked on thousands of performance bond claims that relate to all divisions of construction. In the event of a performance bond demand, our team can offer the following services: pre-termination evaluation; termination review; cost-to-complete estimate; project relet; project monitoring; contract administration; latent defect evaluation; overpayment evaluation; and closeout administration.
Payment Bond Claim Consulting
VERTEX’s team of engineers, construction managers, architects, and accountants assist surety providers review payment bond claims from subcontractors, suppliers, labor claimants, and tax organizations. Our understanding of contracts, state law, federal law, FARS, construction means and methods, and fair market value allows VERTEX to provide sureties the information that is needed to make timely decisions on the proper amounts to pay on individual claims.
Surety Completion Contracting
VERTEX provides completion contracting services on projects of all types and sizes where the original contractor does not complete its contract work due to a termination for convenience or for cause. VERTEX understands the subcontractor ratification process and intricacies involved in the proper estimation of partially completed work. VERTEX completes partially completed and typically distressed projects throughout the globe. While serving as a completion contractor, VERTEX maintains the best interests of the surety through the course of construction.
Construction Claim Consulting
VERTEX has full time construction claims personnel that are experts in assembling affirmative claims for overpayment, differing site conditions, added scope, cardinal changes, delays damages, loss of productivity, maladministration, wrongful termination, etc. This same team is equally qualified to rebut claims asserted against sureties and their principals. In the event that the dispute is elevated to mediation, arbitration, or litigation, sureties can rely on VERTEX team of experts to provide strong testimony.
VERTEX’s pool of experts has individually testified up to 150+ times in state courts, federal courts, traditional arbitration (AAA, JAG, etc.), and ICC arbitration. Our experts are qualified in construction claims, engineering issues, cost estimating, allocation, construction means and methods, surety completion contracting, and surety claims administration.
When funding a contractor, our clients require experienced personnel in construction and accounting to ensure receipt of funds from the project owner and proper disbursement of funds to subcontractors, vendors, suppliers, labor unions, etc. VERTEX provides expertise in fund control to ensure timely and accurate services.
Often times VERTEX is called upon to augment the surety’s staff be it assisting in claim writing or acting as the Owner’s Representative on behalf of the surety. Some of our Staff Augmentation Services include project scheduling, project engineering, assistant project management, senior project management, quality control, safety, risk management, assistant superintendence, and general superintendence.
Surety providers frequently retain VERTEX’s IT experts to copy and digitally retain all files from bond principals when surety obligations are triggered because of payment and /or performance issues. VERTEX typically collects accounting information, contract documents, emails, letters, etc. and preserves the information on our cloud server, which can retain any amount of information for as long as necessary. This service allows sureties to rest easy knowing that relevant project information will not go missing overnight.
Contract Claim Disputes
Our construction claims team prepare affirmative claims and rebuttal reports for disputes that involve: scheduling, scope, productivity, differing site conditions, maladministration, over-payment, unjust enrichment, default termination, etc. VERTEX works on claims that range from several thousand dollars to several hundred million dollars.
Mark Degenaars is the Managing Director of the Construction Services vertical within The Vertex Companies, Inc. He has been with VERTEX for over 5 years with a primary focus as a consultant to the surety claims industry and private public developers. Mr. Degenaars brings over 20 years of project management, facility management, private / public development and construction experience to each assignment. Mr. Degenaars has successfully managed a large variety of projects ranging from various types of vertical construction to heavy highway / civil design projects. Mr. Degenaars has served as an expert and fact witness for a variety of projects. Prior to joining VERTEX, Mr. Degenaars owned and managed his own consulting firm for nearly a decade.
VERTEX is at West Coast Casualty's 25th Annual Construction Defect Seminar
May 17, 2018
VERTEX’s will be exhibiting at West Coast Casualty’s 25th Annual Construction Defect Seminar in Anaheim, CA on May 17th and 18th. If you see Chris Morley, Mark Degenaars, Kevin Maxwell, Matt Click, Pasha Ameli or Ashley Combs, be sure to stop and say hello! The West Coast Casualty Construction Defect Seminar series is the largest event of…
VERTEX at Massbuys Expo 2018. Greg Sampson, Chris Carleo, and Andrew Chagnan. VERTEX is excited to participate at MassBuys Expo May 10th. Stop by our booth (#134). We will have experts in design engineering, environmental, and construction to talk with, and you could win a football! VERTEX’s State-Wide Contracts PRF67 – DCAMM Environmental…
VERTEX is Proud to Support South Shore Health System
May 7, 2018
VERTEX is proud to support the South Shore Health System Foundation. Benjamin Strong, COO and Jeffrey Picard, President, are active members of the South Shore Health System’s Presidents’ Circle. South Shore Health System (formerly, South Shore Health and Educational Corporation) is a not-for-profit, tax-exempt, charitable Health System that provides a broad range of health services to…
VERTEX’s Project 50,000 was initiated earlier this month by our Phili-metro office. Congratulations to our PA team on opening the monumental Project Number! This project milestone represents a level of experience and achievement that few in the AEC industry can claim. This photo shows some of our PA team and was taken at lunch hour during…
VERTEX's Thomas Koch to be a Panelist at CREJ Sustainability Event
April 24, 2018
On April 26th, Thomas Koch, VERTEX’s Vice President of Industrial Hygiene & EHS Services, will be a panelist on “Well Building Update: What Landlords Need to Know” at CREJ’s Sustainability: Achieving the Next Level. This is CREJ’s principal Green Building event of the year with more than 200 attendees anticipated representing owners, brokers, property managers,…
Measuring the Reasonableness of Completion Costs Post Termination: Part 3
April 12, 2018
So far, we have covered how to determine if completion costs are reasonable and which completion costs should be considered reasonable. As we conclude our series, we will discuss which completion costs should not be considered reasonable. What Costs are Not Reasonable for Recovery? Costs may have been incurred in the completion of the work that are…
According to the National Institute for Occupational Safety and Health (NIOSH), over 500,000 people are treated each year for ladder related falls. Whether you use a ladder out in the field, in your workplace or at home, safety should always be your number one priority. At VERTEX, safety is part of our culture. We recently hosted…
Measuring the Reasonableness of Completion Costs Post Termination: Part 2
April 2, 2018
Last week, we discussed how to determine if completion costs are reasonable. As we continue the series, we will discuss which construction completion costs should be considered reasonable. When Are Costs Deemed Reasonable? Reasonableness can be a subjective determination. In cases of construction contracts under federal contracting guidelines, the Federal Acquisition Regulation (FAR) contemplates that…
In Canada, Occupational Health and Safety (OH&S) is covered by Acts (legislation) or statutes and other related regulations promulgated under federal, provincial, and/or territorial regulations. Regardless of jurisdiction, the key components of OH&S regulations in Canada are similar across the country. However, the details of the legislation, the mechanism of implementation, and enforcement may vary…
Measuring the Reasonableness of Completion Costs Post Termination: Part 1
March 20, 2018
If an owner terminates its contractor for cause, or if a general contractor or construction manager terminates one of its subcontractors for cause, it owes the terminated party as well as its surety, if applicable, a duty to incur only the reasonable and necessary costs to complete the work. In other words, the non-default party…