Subcontractor Bond Forms: The Terms, Conditions and Business
Subcontractor Bond Forms: The Terms, Conditions and Business
This session will focus on the bonds that many general contractors continue to consider the best way to guarantee their subcontractors’ performance. In recent years, as construction projects have increased in size and owners have tightened schedules, shifted risk and increased their liquidated damages for any unexcused delays, some have questioned whether subcontractor bonds can continue to meet contractors’ business needs. This session will explore the bond forms and business practices that both promise and suggest that the answer is “yes.” As the speakers will explain, bond forms can authorize a significant measure of self-help without depriving sureties of their opportunity to investigate.
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