Masonry Magazine October 1984 Page. 21
Insurance
Insights...
Honk If You Love Bonds...
No, you aren't going to put a sticker with that message on the bumper of your car. But contract bonds play an important part in just about every construction job in which you'll be involved, either as a contractor, a subcontractor, a building owner, or even lessee.
You may not love the necessity of bonding, but if it weren't for the requirements of bonds every jackleg, part-time subcontractor in the vicinity would bid on every construction job in sight. Bonding requirements can help screen out unqualified bidders, which is good for the reputation of the contracting industry. By being able to assure the owner or general contractor that he is able to furnish the performance and payment bonds if awarded the contract or subcontract, the bonding agent and his bonding company are in effect saying "we have thoroughly examined all the qualifications of this contractor or subcontractor, and believe he is qualified in every respect to successfully complete the contract."
Because of bond requirements, contractors and subcontractors give better material prices, preferred delivery schedules, and sometimes end up as more successful businesspersons. Why? Because surety agents and companies help contractors avoid jobs they shouldn't bid on and at the same time make subcontractors aware of the need for accurate and timely job costing procedures and cash flow analyses. Insurance and Risk Management Newsletter. Commercial Insurance Service, Inc., Charleston, W. Va.
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Masonry Advisory Council Donates Book
Masonry In Architecture, a new book by Louis G. Redstone, FAIA, was recently donated to the architectural libraries of nine Illinois colleges and universities by the Masonry Advisory Council of Illinois.
Masonry In Architecture contains a wealth of practical knowhow and useful advice that only a professional with years of experience could provide, and serves as a stimulating source of ideas for architects, engineers, builders and owners. Lavishly illustrated with photographs and architectural details, this hard-cover volume spans 5,000 years of masonry, from the early efforts of stone masons in Egyptian, Greek, Mayan and Roman civilizations to the sophisticated masonry buildings of today.
Redstone has engaged in nearly a half-century of architectural practice and heads his own award-winning firm in Livonia, Mich. Masonry has become an integral part of his professional trademark. Masonry In Architecture is available at bookstores for $39.95.
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MASONRY-SEPTEMBER/OCTOBER, 1984 21