Surety Completion
Surety Completion
Surety Completion
Watson Civil has the capability and staff to engage and assist with surety completion takeover work. This work refers to the process in which a surety company assumes control of a construction project that has been abandoned, left incomplete or breaches the terms of the contract by the original contractor. The surety company, which provided a performance bond or completion bond for the project, steps in to fulfill the contractual obligations and complete the work on behalf of the defaulting contractor.
Once the surety company assumes control, they conduct a thorough assessment of the project's status. Watson Civil works with the surety company reviewing the contract documents, evaluating the work completed by the original contractor, and assessing any outstanding tasks or deficiencies. Based on this assessment, the surety company and Watson Civil develop a plan to complete the remaining work and address any outstanding issues.
Watson Civil in turn mobilizes our own team, including project managers, engineers, and other necessary personnel, to take over the project. We work closely with the surety company, project owner, subcontractors, and suppliers to ensure a smooth transition. This involves reviewing existing contracts, establishing communication channels, and addressing any logistical challenges. Watson Civil will identify any further deficiencies or defects in the work completed by the original contractor and develop strategies to rectify these issues, which may involve additional work, repairs, or coordination with subcontractors. The goal is to bring the project up to the required specifications, ensure that it meets the original contractual obligations and finish the project timely.