Construction Bonding

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It has become the practice in the construction industry, at least on large construction projects, to require contractors to post (i) Bid Bonds, (ii) Performance Bonds and (iii) Labour and Material Payment Bonds before the beginning of construction, and (iv) Construction Lien Bonds in the event that construction liens are registered against the title of the owner?s land during the work.

This paper has been prepared to provide the parties to construction contracts with information on some of the various types of bonds that are available in the industry and to explain how each work. The paper will also describe what owners and contractors must do to protect their rights under the various types of bonds.

This paper is not intended as legal or professional advice. Readers should seek specific legal advice on particular legal issues with which they are concerned.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Clark Wilson LLP | Attorney Advertising

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