The bond Principal shut down their business unexpectedly, throwing this and 15 other jobs simultaneously into default. On behalf of the surety, VERTEX mobilized to the site, contacted subcontractors, monitored ongoing work, ensured timely payment to subcontractors, put the project back out to bid, and negotiated favorable completion contractor pricing. VERTEX decreased direct and indirect damages for the surety during execution of the contract. After the project was completed by the completion contractor, VERTEX provided the surety with delay claim analysis and defense, as well as developed affirmative claims on behalf of the surety. VERTEX participated in mediation and, with the surety and outside counsel, achieved favorable results.
To learn more about VERTEX’s Forensic services or to speak with an Expert, call 888.298.5162 or submit an inquiry.
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Rendering provided by HMC Architects.
