In terms of understanding the efficiency and fee bond meaning below the Miller Act, authorities contract legislation attempts to resolve this drawback by introducing the idea of individual sureties, the truth of the agency allowing for Miller Act performance and fee bonds from an individual surety ...
Performance bonds are legal documents, and their importance depends on their wording, especially in terms of the exact way the owner wants the project completed. If there is any contest to the meaning of the bond, the surety company investigates, at expense to the contractor. If the owner wan...
Performance and Payment Bond Cost Whether your contract required a Performance Bond, Payment Bond, or a Payment and Performance Bond together, the premium rate does not change. In essence, it can be viewed as a buy one get one free situation. ...
Payment and Performance Bond Coverages and Claims In the construction industry, payment and performance bonds are important in defining and guaranteeing contractors' obligations and parties' rights. The us... JW Hinchey - 《Arbitration Journal》 被引量: 5发表: 1986年 Handling of Contract Bond ...
Payment & Performance Bond. A bond(s), issued by a surety in accordance with §255.05 Florida Statutes, Article 6 of the Construction Contract and Article 5 of these General Conditions.
PerformanceBondandPaymentBond COMPARATIVE NOTE:ThiscomparativeversionofAIADocumentA312–2010showsadditions anddeletionstostandardAIAcontentbytheKentuckyDepartmentof Education.AdditionstoAIADocumentA312–2010areunderlined(addition); deletionsarestricken(deletion).PublicationofthismodifiedversionofAIA ...
In this expression, tick is a shortening of ticket, where ticket carries its obsolete meaning of a written note acknowledging debt. Although the phrase never attained great popularity in the United States, it has been a commonplace expression in Great Britain for centuries. A poor wretch that ...
and in a workmanlike manner. The cost of a performance bond is borne by the contractor and will depend on a number of components-the contractor’s creditworthiness and expertise, the cost of the mission itself and the type of construction. That cost is inevitably factored into the contractor’...
Performance and Payment Bonds at Surety1 Surety1 has the expertise to place almost any size bond and is a valuable business partner for any company that wants to grow its surety capacity. Performance and payment bonds are not insurance, so why purchase them from an insurance agent? All we do...
Maturity Payment Amount shall have the meaning set forth in Section 2 of this Annex A. Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month. Installment Payment has the meaning ascribed to it in Section...