Construction Opportunities in Latin America-Understanding the Risk and the Role of Surety

摘要

The 2014 FIFA World Cup and 2016 Olympics will bring more to Latin America than wild-eyed fans and sports tourists. Both events are also drawing attention to the vast opportunities in the region's construction market. Though these two high profile events will understandably spur growth in the surety and construction markets, the real growth will be fueled, more significantly, by the expanding needs in infrastructure development. These undeveloped needs, of course, represent a tremendous opportunity for U.S. contractors, but they also carry an important caveat: Business practices in Latin America's construction industry-including, but not limited to, contractual obligations, labor requirements, and surety bond coverage-can differ markedly from those in the U.S. The contractor who is adequately prepared for those differences is likely to have a significant edge over the competition.