Construction contracts for commercial projects, including the ongoing boom in apartment projects, routinely require the general contractor and/or the subcontractors to provide performance bonds.

When faced with a performance bond claim, the Surety will often seek to determine its overall exposure or expected loss. Once determined, the Surety can use this information to make educated decisions ...

Surety bonds are an agreement involving a principal, an obligee and a surety company that issues the bond for a fee. In most cases, the obligee accepts a bid or application submitted by the principal.

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Performance bonds are also referred to as surety bonds. These are debt instruments that are purchased in connection with a contract between two businesses. One side of the contract is the service ...

The most common types of surety bonds that a construction contractor will run into other than their contractors license bond are bid bonds, performance bonds, and payment bonds. All of these bonds ...

Benchmark bonds set performance standards for other bonds. This article covers their definition, operation, and examples that ...