200 payment bond claims. Over a dozen different buildings in various states of completion. Legal issues. Big trouble throughout the multi-project portfolio, including costly, unresolved drainage issues. Recently, Guardian Group, Inc.’s Surety Group was called upon to assist a surety who required assistance while dealing with a general contractor who was attempting to avoid termination while under a significant financial stress that was impacting the work.
In this case, Guardian reduced surety losses by developing a better solution for an extensive walkway drainage issue. Upon site inspection, some of the walkway was two-feet off grade–there were even portions that were as much as six-feet off grade. This was causing serious drainage issues, which often go on to become landscape, building damage and construction defect issues.
While it was originally thought the walkway needed to be replaced altogether, Guardian’s experts instead created a plan for a series of outlet drains, strategically located in designated areas throughout the parkway. Our engineers collaborated with the Obligee’s engineer and architect to develop, refine and implement this re-design without replacing the existing walkways.
Guardian worked with the general contractor to demonstrate delay impacts, and provide expert testimony on behalf of the surety’s and principal’s counsel, ultimately helping persuade mediators that a 1MM+ recovery of costs and lost profits was in order. In this case it was estimated the surety’s expected loss was reduced by 50%.
Trust your surety claims to the one firm who proves that regardless of claim size, scope or geographic location, putting The Complete Solution on your side is one of the smartest moves you can make.
Get in touch with mike.saba@guardiangroup.com or todd.bauer@guardiangroup.com today.