Construction Today - May 2017 - 44
Commercial | C&D BONDING
Understanding the marketplace
is mandatory in the surety
tors, site conditions, subs and a whole litany
of things," he adds. "Our knowledge, being
out in front of the market and knowing
what's coming down the road is one of the
things that sets us apart."
Bonding predicts 2017
through 2019 will be "fantastic"
years for construction.
CONSTRUCTION-TODAY.COM MAY 2017
C&D Bonding says the economy is getting
better and banks are beginning to lend
more regularly with less stringent terms
and conditions. "Related to the housing
market, the overall inventory of homes has
gone way down and lending has been rather difficult because of regulations, but that's
starting to change," Vega says. "There is a lot
of optimism in the construction industry. It
was hit the worst during the recession and
it's lagging in terms of recovery, but there is
The company predicts 2017 through 2019
will be "fantastic" years for construction
and homebuilding, but expects another
recession in 2020. "Work is so plentiful now.
Contractors should look to maximize its
surety credit and fill their backlog before
2020 because a downturn in the marketplace is expected," Vega predicts.
To ensure it stays up-to-date on the latest
products and work opportunities, C&D
Bonding is actively involved in the organizations Construction Financial Management Association, Engineering Contractors'
Association, Associated General Contractors,
Associated Builders and Contractors and the
Southern California Contractors Association. The company also hosts seminars on
surety bonding, hoping to attract a variety
of industry professionals. "That's how we
keep our name out there, educating a larger
group of people who hopefully aren't all our
clients," Vega says.