Early bond release key to averting industry surety crisis

The construction bond market squeeze will force clients and contractors to rethink their working practices.
Where client variations take project work above agreed contract values, bonds should be released and then rewritten to cover the smaller balance of extra work required.This would free-up needed capacity in the market said bond broker DRS Bond Management.
A shortage of available bond capacity is now threatening to delay project starts.
The situation has been building up to crisis point over