Know the pros and cons of subcontractor default insurance so you are prepared for your next project.
Are you involved on a complex and large-scale construction project, whether from the owner or general contractor's perspective? If so, has the topic of subcontractor default insurance (SDI) been discussed? If you are involved in such a project, SDI is an important topic since SDI would generally serve as an alternative to requiring subcontractors to obtain performance bonds. SDI is a first-party insurance policy, but operates differently than the first-party insurance policies you typically think of such as a property insurance/builder's risk policy. SDI is not a performance bond and operates differently than a performance bond. SDI is designed to cover more catastrophic-type defaults and can be a useful insurance policy on well-managed projects. This topic will explain the differences between a performance bond and SDI, discuss how a SDI policy operates, and touch upon the positives and negatives of SDI.
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Overview of Subcontractor Performance Bonds
Overview of SDI
How SDI Works
SDI Is Not a Performance Bond
Positives and Negatives of SDI
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on April 5, 2016.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
David Adelstein
Kirwin Norris, P.A.
- Partner in the office of Kirwin Norris, P.A.
- Practice emphasizes all aspects of construction law
- Conducts regular seminars and workshops on numerous on construction law
- Author of several publications related to the areas of construction law
- Can be contacted at [email protected] or 954-295-6117
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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