When an owner requires a contractor to post a payment and performance bond, the contractor, invariably, provides a bond in the form of AIA Document A312-2010. The payment portion of the bond is ...

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Owner concludes that Contractor is in default of the Contract and provides notice to the Surety of a default under the commonly-used AIA-A312 Performance Bond. Owner dutifully follows all of the ...

The Oklahoma Supreme Court has rejected a contractor’s performance bond claim due to the lack of adequate notice to the subcontractor’s surety (see Flintco LLC v. Total Installation Management ...

Placing concrete requires specialized skills and equipment. The licensing requirements for concrete contractors vary from state to state. In some states, concrete contractors need a specific license ...

Bid bonds guarantee that contractors complete projects they bid on, often for public or government jobs. If a contractor fails, a performance bond replaces the bid bond, ensuring project completion.

For most contractors working in the U.S., construction bonds are one of the major requirements they need to meet in order to even apply for a project. Still, they are often confused by these bonds, ...

Contractor default inflicts huge losses on everyone involved — on contractors and project owners alike, though in different ways — and can delay, and ultimately stop, a project. This is why surety ...

Construction bonds ensure project completion and quality, protecting owners if a contractor fails. Contractors must provide financials and project details to secure bonds. Multiple bond types cover ...

That agreement gave Berkley sweeping rights. If things went south, Berkley could demand cash collateral on short notice, take a security interest in Tekcon's contracts and equipment, and make the ...