Construction Risk Management: An Alternative to a Payment and Performance Bond

Learn the components of a successful Construction Risk Management (CRM) program. An improving economy has meant a marked upturn in commercial construction.

 However, with that greater opportunity comes greater risk: increased regulatory governance by the FDIC and the OCC, and the tighter credit climate accompanying the recovery have combined to make risk management in construction lending an even greater priority.

Given the commercial real estate losses incurred during the Great Recession, lenders are particularly sensitive to construction financing in this rebound. This timely topic will define and describe the components of a good CRM program and will enable you to proactively and comprehensively manage, as well as mitigate, your construction risk.

Learning Objectives:

• You will be able to define construction risk management.
• You will be able to discuss a relatively new way to mitigate commercial construction lending risk.
• You will be able to identify the components of a proactive construction risk management program.
• You will be able to recognize the benefits of a sound construction risk management/bond alternative program.

This Live Webinar Covers These Hot Issues:

Overview

• What Is Construction Risk Management (CRM)?
  
• What Is Included in a CRM Program?
  
• What Are Some Common Problems?

Document and Cost Review

Contractor Evaluation

Construction Progress Monitoring

Funds Control and Disbursement

Government Approved

Completion Commitment

Case Studies and Problem Solving

Other Services

Questions

Credit Information (Sponsored by Lorman Education Services)

• CLE
• CPE
• NASBA

For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Faculty

Joseph (Joey) Bonin, Jr., Partner Engineering and Science, Inc.

• Atlanta-based principal at Partner Engineering and Science, Inc., headquartered in Torrance, CA
• Practice emphasizes all aspects of commercial real estate due diligence, but especially construction risk management and bond alternative programs
• Conducts regular seminars, webinars, and workshops on construction risk management to members of RMA, NAGGL, AAHOA, GLQC, FLAGGL, and other groups
• Involved in hospitality, multifamily, retail, office, restaurant, resort, condo, student housing, medical, senior living, golf course, marina, warehouse and other commercial construction projects throughout all 50 states, Canada, Mexico, American Samoa, and the Caribbean, including Grenada, Puerto Rico, and Antigua
• Member of RMA (Risk Management Association), NAGGL (National Association of Government Guaranteed Lenders), AAHOA (Asian American Hotel Owners Association), GLQC (Georgia Lenders Quality Circle), FLAGGL (Florida Association of Government Guaranteed Lenders) and ICSC (International Council of Shopping Centers)
• B.S. degree in accounting and M.S. degree in marketing, Louisiana State University
• Can be contacted at 404-852-3767 or jbonin@partneresi.com