Brian L. Lynch | Faegre Baker Daniels | June 21, 2017 Although other forms of security are possible to secure performance of a construction contract, corporate surety performance bonds remain the construction contract guarantee of choice for owners in both public and private projects. The performance bond is generally meant to protect the named obligee… Continue reading Risk is More Than Just a Board Game: A Guide to Performance Bonds
Tag: Performance Bond
Subcontractors Must be Careful Providing Bonds when General Contractor Does Not
Christopher G. Hill | Construction Law Musings | April 5, 2017 After I wrote the title to this post, I thought, “Well, that says it all, doesn’t it?” I also considered the fact that for those that read this construction law blog on a regular basis, I am likely stating the obvious. I then thought… Continue reading Subcontractors Must be Careful Providing Bonds when General Contractor Does Not
Hurdles with Triggering a Subcontractor Performance Bond
David Adelstein | Florida Construction Legal Updates | April 1, 2017 There have been a couple of decisions as of late, particularly in federal court, that have gone in favor of a performance bond surety and against a general contractor’s claim against a subcontractor’s performance bond. These decisions have been so unfavorable that they may… Continue reading Hurdles with Triggering a Subcontractor Performance Bond
Florida Court’s Decision Should be a Caution to General Contractors to Precisely Follow a Performance Bond Procedural Requirements
Brendan Carter | The Dispute Resolver | January 14, 2017 In Arch Insurance Company v. John Moriarty & Associates of Florida, Inc., 2016 U.S. Dist. LEXIS 172173, the U.S. District Court for the Southern District of Florida granted Summary Judgment to a surety after finding that a general contractor did not satisfy the procedural requirements… Continue reading Florida Court’s Decision Should be a Caution to General Contractors to Precisely Follow a Performance Bond Procedural Requirements