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An often-overlooked part of contract negotiations is the language included in the performance bond. While the owner or contractor (bond obligee) requires a performance bond and pays...
Where a judge ruled against a general contractor claiming to be entitled to payment under a performance that an insurance company issued to a subcontractor, the judgment should be affirmed because of the general contractor’s failure to terminate the subcontractor. “In this diversity case, The Graphic Builders LLC (‘Graphic’), a general contractor, is seeking to
A Boston construction firm's failure to fire a subcontractor for defectively installing windows on a 171-unit apartment building doomed its efforts to have an insurer pay to fix the shoddy work, the First Circuit said Wednesday.
Thursday, May 13, 2021 When a party to a construction contract is faced with nonperformance of another party, often the desire to keep the project moving takes precedence in responding to the performance default. Problems arise, however, when the party who is owed the performance acts without first considering the terms and conditions of the written instruments governing the parties’ relationship on the project. For example, a construction contract may require the posting of payment and performance bonds guaranteeing, among other things, the performance of the bonded contract work...
When a party to a construction contract is faced with nonperformance of another party, often the desire to keep the project moving takes precedence in responding to the performance...