If you are a construction contractor, you deal with performance bonds as part of your business and daily work. They are necessary for almost every project you are participating or will participate 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 ...

When a party to a construction contract is faced with nonperformance of another party, often the desire to keep the project moving takes precedence in responding to the performance default. Problems ...

There are two types of bonds that an estimator must understand. First, there is a bid bond also called a bid security or bid guaranty. Second, there is a performance bond. Let’s take a look at the ...

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 ...

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 ...

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 ...

Scott Mollen discusses "JDS Dev. LLC v. Parkside Constr. Bldrs. Corp.," and Levy v. NYS Div. of Hous. & Community Renewal." Construction—Performance Bond—Noncompliance With Condition Precedent Bars ...