What to Know About SUBCONTRACTOR PERFORMANCE BONDS
Subcontractor bond forms pose significant risks and obligations for general contractors, subcontractors, and indemnitors. There is no such thing as a standard subcontractor performance bond.
This NASBP Virtual Seminar, led by Smith Currie Partner Brian Wolf, will provide important information for surety professionals and both their contractor and subcontractor clients regarding the language and negotiation of subcontractor performance bonds, how to trigger coverage of a performance bond, and how to navigate the tricks and traps of a performance bond claim. Additional topics covered will include:
What notices are required under a subcontractor performance bond;
What does the performance bond cover;
Who can make a claim against the subcontractor performance bond; and
What are the differences between some of the standardized industry bond forms, such as the AIA and ConsensusDocs forms.