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Surety & Fidelity Consulting

Forcon International has handled hundreds of cases in a wide variety of roles. We have been asked to do everything from performing initial investigations to acting as a Third Party Administrator in runoff and/or claims overflow situations. We have also assisted Sureties in the underwriting process with due diligence investigations and bid reviews.

Surety Consulting Sample Projects

Below is a sampling of some of the projects we have handled and the highlights of our involvement.

South Florida

Curtainwall Contractor

The Forcon team assisted the Surety on various projects for an insolvent Curtainwall Contractor in South Florida. Forcon handled the initial document collection, estimating, re-procurement and on-going management of several active projects. In addition, the Forcon team also assisted with expert witness testimony and litigation support for various projects that were completed prior to the Surety’s involvement.

South Florida

Electrical Contractor

The Forcon team provided assistance to the Surety on various large scale projects for a financially unstable Electrical Contractor in South Florida. Forcon produced cost benefit analyses for the Surety, procured, and re-let projects. Forcon also assisted in the evaluation of payment bond claims and monitoring of on-going construction activities as well as warranty work.

Puerto Rico

General Contractor

The Forcon team assisted the Surety with AP/AR, prepared and reconciled ratification agreements, handled on-going cost to complete estimates, and assisted the Surety with tendering a new completion contractor to the Corps of Engineers. Following the tender, Forcon observed the on-going construction project and provided litigation support.

Virginia

General Contractor

The Forcon Pennsylvania team assisted the Surety on 26 bonded projects by the General Contractor in Eastern Virginia. The assignment included daily monitoring of a Virginia Housing Authority Project and a multiple barracks project for the U S Military. The General Contractor was never terminated, and Forcon provided daily assistance in Project Management, processing claims, scheduling and re-assigning of subcontracts.

New Jersey

General Contractor

This general contractor in New Jersey had eight bonded projects with the Surety in various stages of completion. The Forcon Pennsylvania team handled document collection, estimating, reletting of two projects, as well as overseeing the completion of the projects; including processing payment bond claims, providing assistance in pursuing an $800,000 claim against the School District and assisting counsel in various legal cases.

South and Southwest Florida

Highway Contractor

The Forcon team worked with the Surety on an insolvent highway contractor with over $115 million in contracts. Forcon collected documents, performed the initial project evaluations, and calculated costs and schedules to complete procured completion contractors. The Forcon team then managed each project to completion and assisted the Surety with evaluating and settling claims and provided supported in dispute resolution.

Georgia/Florida

Highway Contractor

Forcon was retained by the Surety when facing the default of a large road and paving contractor with approximately 200 bonded contracts located in Georgia and Florida. Obligee/Obligee(s) included Federal, State DOT, local municipalities, and private entities. At least 50 of the projects, which totaled $256M, were handled through takeover, tender, or bond “buy-back” agreements. Many of the remaining 150 projects had either punch-list work to perform, close-out documents and final acceptance to obtain, or payment bond claims to discharge. Forcon construction managers, accountants, and engineers assisted the Surety in resolution of all performance and payment bond obligations. Forcon assisted Surety in obtaining a judgement against the indemnitors in excess of $120M.

Vance AFB, OK

Mechanical Contractor

The Forcon team assisted the Surety with a contractor default at Vance AFB in Enid, Oklahoma. The scope of work involved upgrading and renovating the HVAC system in high occupancy barracks buildings as well as installation of underground mechanical lines. Forcon ratified key subcontractors, investigated Payment Bond claims, re-let the project, and negotiated pricing with the successful Bidder. The Forcon team was able to successfully negotiate away more than $1,000,000 worth of additional scope items with the US Government. Forcon was also able to obtain the Government’s consent to a tender of the completion contractor, thus eliminating the additional expense of monitoring an active project.

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To identify the Forcon expert(s) with the expertise you are looking for, you may search by Specialized Expertise by clicking here. If you prefer our assistance with identifying the appropriate expert, you may email your request to [email protected] or call 813-684-7686.

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