Cooperative Surety Can Help Salvage a Defaulted Project

This article provides a helpful guide to the practical operation of payment and performance bonds in the context of an undisputed contractor default.

21 minute read August 21, 2010 at 03:07 PM
By
Kenneth M. Block And John-Patrick Curran
Cooperative Surety Can Help Salvage a Defaulted Project

Picture this scenario: You are the owner/developer of an office building that is approximately 50% complete and you are operating under a tight time schedule to complete the project and deliver possession to several tenants.

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