Surety Bonds and Construction Insurance
Imposing Third-Party Requirements on Construction Managers and Contractors
With a few exceptions, on each project on which we represent a developer, the developer enters into agreements with a lender, a landlord, or both. While the developer may be able to fulfill the obligations imposed on it pursuant to the terms of such agreements,...
Changes to the AIA Performance and Payment Bonds
The 2010 revisions to the A312 performance bond made several important changes, concentrating on (1) streamlining the process by which owners can declare potential defaults; and (2) clarifying the surety's exposure.In streamlining the default process, the 2010 version...