b'File name: Contractor Surety Ad_4.583x9.5_4C Client: TRISURASize: Custom Created: June 12, 2019Trim: 4.583 W x 9.5 H Modied: June 12, 2019 6:34 PMColour Mode: CMYK Resolution: at least 300 DPICOVID-19perspective and could have serious ramifications for construction companies. Issues such as increased costs due to productivity losses and stiffer health and safety requirements, as well as costs caused by government invoked construction closures, will need to be sorted out by the courts.Add payment delays to contractors and cash flow concerns and you end up with anxious construction companies concerned about their solvency over the next few years.HOMEWORKConstruction companies need to prepare for the fallout from the pandemic and contract issues that will arise. This means knowing the terms of current project contracts, putting the necessary paperwork together and getting organized so that companies can make claims for compensation.If they do not get prepared and do their homework, it will increase their risk of having added costs laid at the feet of contractors. The consequences for not being prepared could be catastrophic for their business.TCA will be your partner as you go through what will be a difficult time. Members will be guided with ongoing actionable information in newsletters and seminars. TCA will lobby at the provincial and federal level for changes. This includes the language in project contracts to minimize the cash flow impacts of large unforeseeable events that affect the industry.The association is already aligning with other construction organizations and pushing governments to enact regulations that will assist contractors in receiving timely payment flow in areas such as demobilization and remobilization. Work by TCA on these and other concerns now and in future will help members survive and grow during these times.As always, the construction industry will evolve and potentially will look very different in the future. The landscape of our industry is quite fuzzy right now as we try to manage our way through the pandemic, states Mollenhauer.a step aboveThe challenges will be tough, but as in the past, TCA and its members will manage it and come out the other side a stronger sector.BUILDERSDIGEST Quarter 2 202013'