Surety Cases

CSMI has worked for some of the largest insurance and surety firms in the country. We have successfully completed construction projects where the contractor has defaulted for financial reasons. We have monitored the reconstruction of property damaged by wind, rain, and storms. We have evaluated property losses and recommended alternative methods of repair that resulted in cost-effective reconstruction.

Representative Surety Cases

Default Management

  • CSMI managed the completion of an electrical subcontractor’s work after the subcontractor filed bankruptcy and was unable to complete the work on a major department store and two schools. We evaluated the percent completion of the project, estimated the cost of remaining work, inventoried a large amount of materials already requisitioned, and managed the completion of these projects.
  • We then assisted the surety in reconciling payment from the general contractor and unpaid commitments to material suppliers and labor unions. With CSMI’s assistance, each project was completed on time and within budget without claims from the general contractor.