GREYHAWK has a long and successful record for turning around troubled projects. Our team of professionals provide a variety of services to the surety, owners, or their respective counsels: project investigation and status evaluation, performing construction management services, or finishing a project as a completion contractor.
Rose Center for Earth and Science, NY
Our staff has experience with a wide range of industries and diverse contract arrangements, such as EPC contracts, design-build, lump sum, fixed fee, reimbursable costs and variations of each, in both the public and private sectors, which provides GREYHAWK with a unique ability to respond to a variety of complex issues. Throughout our history, GREYHAWK has provided owners, sureties, and their bond principals with sound advice and assistance to make the appropriate, critical project decisions that fulfill bond obligations, under the tripartite agreement, to mitigate potential losses.
Our experience within the surety industry is equally diverse: in the event of a notice of a troubled project by the surety, the owner or the principal-contractor, GREYHAWK can:
- Respond quickly by performing an overview of the project progress and provide a recommended course of action
- Evaluate and discharge payment bond claims or liens on the project
- Assist owners/obligees to understand their obligations under the performance bond if they are considering a default termination
- Advise an owner of completion options, or coordinate the project completion in cooperation with the owner and the surety
In the event of a default termination, GREYHAWK can:
- Assist parties and their counsel during the resolution of outstanding claims and change orders under a reservation of rights so the completion of the project can continue without further delay
- Provide an estimate of costs to complete the project
- Assist the surety as they consider contingencies in order to set cash reserves
- Prepare ratification agreements to retain in-place vendors and subcontractors
- Prepare a bid package to obtain competitive bids and select a completion contractor
- Provide direct project management or general project oversight for the balance of the work
GREYHAWK’S extensive experience in all phases of the construction industry makes us one of the most active construction and surety consultants. Some examples of the many surety-related projects that GREYHAWK has been involved with include schools, tunnels and bridges on the interstate highway system, municipal transportation facilities, public housing projects, courthouses, post offices, water and wastewater treatment plants, nursing home facilities, chemical and food processing plants, power plant expansions, co-generation facilities, pollution control facilities, refinery projects, material handling facilities, marine construction, hotels, and research facilities.
As a result of our experience, many team members have been asked to appear as expert witnesses to provide independent, project-related testimony in mediation, arbitration and litigation.