Surety bonds serve as a safeguard to ensure the fulfillment of contractual obligations and help owners manage the risks that ...

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 ...

Knowing what a contract bond is helps contractors, project owners, and stakeholders understand how to secure performance and payment in construction or service agreements. These bonds are common in ...

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 ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

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 ...

Performance bonds guarantee project completion, reducing investment risk. Investors can seek these bonds to secure against contractor failure. They provide a safety net, improving the reliability of ...

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 ...

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, ...

A surety bond is a way of ensuring that a business makes good on its obligations when it's hired to do a job. Many, or all, of the products featured on this page are from our advertising partners who ...

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.

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...