Trading Portal

Minimizing Construction Claims Can Significantly Reduce Financial Pressure

November 22, 2017 by · Leave a Comment 

Summary: Legal claims are inconvenient to construction projects, but knowing your rights and responsibilities will help navigate the issue if it arises. Read below for two common claims and how they affect your project.

When working on a project, any legal action is a big inconvenience. When working on a construction project, claims can create very large setbacks, which can lead to even more claims. Everyone in the construction industry knows how complicated and annoying claims can be, and will avoid them at all costs. Here are two common construction claims and how they may set your project back.

Bond Claims

Bonds are put in place by project owners to ensure that everyone holds up their end of the bargain, whether directly involved in the construction or contractors who supply materials. If a party violates the terms of the contract while a bond is in place, a claim can be pursued against said party. This can easily set back your project because 1) contract was violated so you may not have supplies to continue and 2) you have to deal with legal issues before resuming work.

Delay Construction Claims

Delays in the construction schedule might be the most commonly disputed issue in the construction industry. These claims are often the result of unforeseen circumstances that impede the work schedule, forcing the team to take another plan of action and change the original deadline. Ironically, having to deal with this claim is in and of itself a setback to the construction schedule.

Claims typically involve multiple parties, so avoiding is every construction project owner’s dream. However, knowing the different types of claims and how they affect your project will help you better understand your legal responsibilities. This way, you will have the tools to defend a claim against you, or know when to file a claim against someone else.

Blog submitted by Lyle Charles: Lyle Charles has worked in the construction industry for over 40 years and offers excellent construction claims management services. For more information, visit his website.

The Investment Approach to the Car Rental Agency

November 17, 2017 by · Leave a Comment 

Summary: Investing in the car rental industry does indeed have its cons, but its pros definitely outweigh the negatives. Here’s why.

It doesn’t take an expert to know that the car rental industry faces a wide array of misunderstandings and biases. Most investors have had some type of negative experience during their rental experience and have drawn similar judgments about the industry as a whole.

Misconceptions

Setting aside all of the negative – or positive – experiences that people have had with renting a car, the rental industry is actually a great business for investors. Generally speaking, most bankers and investors tend to stay away from the automobile industry due to the last 30 years of trouble it’s gone through. However, the level of travel drives car rental revenue. And, since travelling has exponentially grown over the past years, revenue is also on the rise.

Another concern many investors have with the rental industry is the fear of bankruptcy. For numerous years, it was an actual discussion between various parties. Additionally, as you already know, it became a reality. However, in the car rental industry, manufacturers honored their contracts for repurchasing and continued to sell to rental fleets. As you can see, car rentals continue to be an important customer for all automakers.

The Essential Financial Roles

The car rental industry is a combination of both finance business and rental service. It stays away from the manufacturing aspect and foreign competition, as you’d find with major automobile manufacturers. It’s an essential service and plays a critical role in the transportation network. It’s likely that investors that “ride it out” may come out with recurring revenues, depending on the travel volume. Another positive about this is that it cannot be outsourced to countries, nor can it be saturated by the Internet – it’s an industry that’s here to stay and will continue to grow.


Blog submitted by Monte Carlo Rent a Car, LLC: Monte Carlo Rent a Car, LLC, a seasoned car rental agency, can find you a quality car hire in Abu Dhabi for less than what competitors are offering. Visit them online today to find the best deals!