The Road Ahead: What Sureties Need to Know to Work with Contractors in 2021
Recorded On: 01/21/2021
The mayhem created due to the COVID-19 pandemic will spill over into 2021. Even with the passage of the Consolidated Appropriations Act (CAA), 2021, some sectors of the construction industry will thrive while others will not. We are going to explore what markets will expand and contract so surety agents can better understand and assist their clients. Backlog, overhead, labor, and material costs will all have a significant impact on a contractor’s productivity and profitability.
Bonding capacity in markets where jobs are delayed due to government regulations and Personal Protection Equipment (PPE) requirements will also be addressed. Participants will walk away with a clear understanding of the challenges contractors face in the era of COVID-19 and how sureties can deal with the instability caused by the pandemic.
Martin C. McCarthy, CPA, CCIFP
McCarthy & Company, PC
Marty McCarthy, CPA, CCIFP, is well-respected by sureties and bankers for the high quality of his work and profound understanding of the construction industry. Marty helps clients by providing them with the insight needed to grow their business and become more profitable. He is well-regarded as an expert on the Payroll Protection Program (PPP) and other COVID-19 related government programs.
A speaker and author on topics related to construction accounting and financial management, Marty has presented seminars for the National Association of Surety Bond Professionals (NASBP), Construction Financial Management Association (CFMA), Associated Builders and Contractors (ABC), Architectural Glass & Metal Association (AGMA), and Construction Association of Eastern Pennsylvania (CAEP). His articles are featured in leading trade and business publications including CE This Week (Construction Executive), Utility Transportation Contractor (UTCA), and New Jersey CPA (NJCPA).
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