Scott Mollen discusses "JDS Dev. LLC v. Parkside Constr. Bldrs. Corp.," and Levy v. NYS Div. of Hous. & Community Renewal." Construction—Performance Bond—Noncompliance With Condition Precedent Bars ...

There are two types of bonds that an estimator must understand. First, there is a bid bond also called a bid security or bid guaranty. Second, there is a performance bond. Let’s take a look at the ...

Construction bonds are vital tools in the construction industry. A construction bond is an instrument arising out of suretyship law. A project owner may require a contractor to obtain one or more ...

Perfecting a performance bond claim in Texas requires careful attention to legal requirements and procedural details set forth on the face of the bond and under Texas law. Perfection of a performance ...

Construction bonds ensure project completion and quality, protecting owners if a contractor fails. Contractors must provide financials and project details to secure bonds. Multiple bond types cover ...

Norfolk Southern is suing Federal Insurance Company, accusing the surety of refusing to act on a performance and payment bond.

Knowing what a contract bond is helps contractors, project owners, and stakeholders understand how to secure performance and payment in construction or service agreements. These bonds are common in ...