VERTEX was retained by a surety client to monitor a portfolio of projects from one of its Principals under funds control, a Florida based Underground Contractor. The projects included a Water Treatment Plant and several Municipal Underground Utility and Road Improvement projects in the greater Miami area, with a combined project value of over $12M.
VERTEX provided construction monitoring services on four projects simultaneously for several months. VERTEX approached each project individually to assess the best means of mitigating the surety’s risk and fulfilling the surety’s obligations under the performance and payment bonds. VERTEX services included initial investigation activities, various cost and schedule analyses, monitoring, a project relet, payment bond claim reviews, review of subcontractor and vendor invoices, managing collection of contract funds for the surety, and other miscellaneous consulting services for the surety.