News & Analysis as of

Performance Bonds

Risk is More Than Just a Board Game: A Guide to Performance Bonds

by Faegre Baker Daniels on

Although other forms of security are possible to secure performance of a construction contract, corporate surety performance bonds remain the construction contract guarantee of choice for owners in both public and private...more

Developer bonds and defect inspection regime postponed again

by Dentons on

The NSW Government has again postponed the commencement of the new developer bond and defect inspection regime under Part 11 of the Strata Schemes Management Act 2015 (Act). The regime was proclaimed to commence on 1 July...more

Courts Misunderstand the Meaning of “That Particular Part”

This is part one of a two-part series looking at how court decisions in recent years have thwarted general contractors’ reasonable expectation of coverage under their general liability policies....more

Eleventh Circuit Affirms Decision Under Florida Law Barring Contractor’s Performance Bond Claim for Failure to Comply With Notice...

by Pepper Hamilton LLP on

Int’l Fidelity Ins. Co. v. Americaribe-Moriarty JV, 2017 U.S. App. LEXIS 3628 (11th Cir. Feb. 28, 2017) - Americaribe-Moriarty Joint Venture (“Americaribe”) entered into a subcontract with Certified Pool Mechanics I,...more

(US) Payment and Performance Bonds vs Completion Bonds. What’s Best for Your Project?

by Reed Smith on

Several types of bonds exist in the development world. So, which type of bond is best for your project? A payment and performance bond is a combination instrument. It’s first a payment bond that guarantees that the...more

When Construction Contracts Go Sideways in Bankruptcy

The contractor on a project files a bankruptcy case. How should the property owner and subcontractors proceed? When a party to a contract files bankruptcy, the other party’s actions are constrained by the bankruptcy code....more

Strict Compliance with Performance Bonds

by White & Case LLP on

Performance bonds and bank guarantees are commonly used as forms of security under construction and engineering contracts. Calling on a performance bond or bank guarantee requires, in most countries, "strict" compliance with...more

Unpaid Subcontractors Beware

by Bennett Jones LLP on

Alberta Court of Appeal confirms no duty to disclose existence of labour and material bond unless asked - Labour and material payment bonds (L&M Bonds) serve an important purpose on a construction project by providing...more

Defence & Indemnity - June 2016: V. SURETY AND BOND ISSUES

by Field Law on

Obligee's claim against surety can survive despite Obligee's claim against principal being unenforceable as a result of wording of completion agreement - HOOPP Realty Inc. v. The Guarantee Company of North America, 2015...more

Shaken? Stirred? A Primer on License Bond Claims in California

Shaken? Stirred? A bit hot under the tuxedo collar perhaps? Maybe it’s time for a martini. Or two. When your project’s a mess, your contractor isn’t returning your calls, and you don’t have a license...more

New Qatar Public Procurement Law

by White & Case LLP on

Last week the State of Qatar implemented a new public procurement law. The new law further aligns Qatar's public procurement laws with international best practice and should streamline public procurement in Qatar....more

Construction Bond Basics

There are three types of bonds that afford financial protection in connection with a construction project: payment bonds, Cranesperformance bonds, and bid bonds. Below is a primer on the differences between these bonds and...more

Public contracting requirements: Not just for ‘traditional’ government contractors

by Thompson Coburn LLP on

Federal and state laws contain many construction-related requirements that are routine for traditional government contracts and contractors. Not routine, however, are applications of these requirements outside the realm of...more

Defence & Indemnity - February 2016: V. Surety and Bond Issues: The relationship between trust and lien claims under Provincial...

by Field Law on

Stuart Olson Dominion Construction Ltd. v. Structal Heavy Steel, 2015 SCC 43, per Rothstein, J. - I. FACTS AND ISSUES - Stuart Olson Dominion Construction Ltd. (“Dominion”) was the general contractor of a football...more

Codere S.A. Surety Bonds - Gambling with Unfunded Commitments

Mr Justice Robin Knowles CBE handed down his judgment on 29 January 2016 in GSO Credit – A Partners L.P. (and other GSO funds) v Barclays Bank PLC and HCC International Company PLC [2016] EWHC 146 (Comm) concerning the...more

Article: Southern District Decision Confirms Breadth of Bankruptcy Court Jurisdiction

The Southern District of New York in the recent Ames decision engaged in a detailed analysis of the contours of bankruptcy-court jurisdiction and found it broadly included a wide array of state law claims (notwithstanding the...more

Miller Time: Where to File a Miller Act Suit Arising on an Overseas Project?

Subcontractors filing Miller Act lawsuits in the U.S. must generally do so in the federal district court where the contract from which the dispute arose was “performed and executed.” 40 USC §§ 3131-3134 However, on...more

Legal Landscape: Top News in the Mentor-Protégé Program, Bond Claims & DBE Fraud

Welcome to the third edition of Legal Landscape, a series we have developed with Onvia’s blog to provide government contractors with a quick, but thorough, summary of important legal developments and regulations in government...more

What's In A Name? The Case Of "On-Demand" Performance Bonds

by Allen & Overy LLP on

A bank's attempt to characterise performance bonds as guarantees failed in a further example of the English Court's strict approach to construction of "on-demand" payment obligations. In a decision which provides some...more

Federal District Court in California Holds that Subcontract Provision Binding Subcontractor to Result of Dispute Resolution under...

by Pepper Hamilton LLP on

DVBE Trucking and Construction Co., Inc. v. McCarthy Building Companies, Inc., 2015 U.S. Dist. LEXIS 90052 (N.D. Cal. July 10, 2015) - This payment dispute case arises out of a Veterans Affairs (“VA”) construction...more

Project In(Site): Legal Developments Impacting Construction & Government Contract Industries

by Seyfarth Shaw LLP on

Welcome to the inaugural issue of Project In(Site), Seyfarth’s Construction and Government Contracts practice groups’ publication focusing on decisions or other items of interest for construction and government contract...more

A Brief Look At Common Construction Loan Credit Enhancements

by Poyner Spruill LLP on

As the competition for construction loan projects remains at unprecedented levels in much of the country, lenders are frequently being asked to waive, modify or re-visit their standard construction loan credit enhancement...more

Letters of the Law: 'R' is for Retention

by DLA Piper on

Contractors in Qatar are usually required to stump up an enormous 30% of the contract sum in security to the employer. This is more onerous than in most jurisdictions, and reflects the buying power of the client but also the...more

Is the Mechanic’s Lien or Bond Waiver Clause in Your Contract Enforceable in Virginia?

by Williams Mullen on

A new Virginia law invalidates any mechanic’s lien or payment bond waiver signed before work has commenced. The Governor recently signed new legislation into law, effective July 1, 2015, that invalidates waivers of...more

Seventh Circuit Limits Construction Lender’s Use of Title Insurance Policy to Cover Construction Liens Created by Lender’s Cutoff...

by Foley & Lardner LLP on

In a recent decision written by Judge Sykes, affirming a decision from the Western District of Wisconsin, in an issue governed by Wisconsin law, the Seventh Circuit ruled that a title insurer has no duty to indemnify a...more

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