Episode #79: A Sure Thing – Steve Ness, president and COO, Surety Association of Canada
About this episode
Steve Ness discusses the importance of surety bonds in the construction industry and addresses misconceptions about their effectiveness.
Across the world of construction and trades, failure to secure payment for work done and materials purchased is probably the biggest and most common threat to any company’s survival. The system of bonds, liens and sureties we rely on to safeguard contractors and subcontractors can be so arcane that many of us simply don’t bother – and take on massive risk in doing so. Steve Ness of SAC says the system can be made to work for you and joins GlassTalk to explain how. He also addresses the persistent myth that the Ontario court’s Earth Boring decision has undermined surety bonds.
Keywords
- surety association
- contractors
- subcontractors
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