Practical Guide to Construction Contract Surety Claims, Third Edition

Practical Guide to Construction Contract Surety Claims provides clear guidance on the methods, procedures and case law surrounding the surety process. Whether you represent the surety, principal, or obligee, this one-of-a-kind reference will provide you with the indispensable, practical guidance and reliable tools you need to manage the surety process.

Practical Guide to Construction Contract Surety Claims is logically organized around the various types of bonds - payment bond, bid bond, performance bond - as well as the claims that are asserted against those bonds, and the methods of investigation and resolution of those claims. It covers in detail the surety's options for resolving performance bond claims, including:

• Tender
• Completion by the obligee
• Completion by surety
• Financing the principal

This book also addresses matters that affect the claims handling process, such as:

• Bankruptcy of the principal
• Claims for extra-contractual damages
• Claims by the surety against the principal
• Indemnity for losses sustained by the surety
• The interrelationship of the surety and the insurance carriers for the construction project

Valuable analysis of case law is included within the discussion of each topic, and the relevant facts of key cases are highlighted where applicable..

Note: Online subscriptions are for three-month periods.

Previous Edition: Practical Guide to Construction Contract Surety Claims, Second Edition, ISBN 9780735552630

1. INTRODUCTION TO SURETY BONDS
2. ORIGINS AND TYPES OF SURETY BONDS
3. BOND VALIDITY; COMMENCEMENT OF CLAIM
4. BID BONDS
5. PAYMENT BONDS: CLAIMANTS AND COVERED CLAIMS
6. PAYMENT BONDS: NOTICES AND STATUTES OF LIMITATIONS
7. PAYMENT BONDS: DEFENSES AND CLAIM RESOLUTION
8. PERFORMANCE BONDS: NOTICES AND DEFENSES
9. PERFORMANCE BONDS: INVESTIGATION AND OPTIONS
10. PERFORMANCE BONDS: COMPLETION BY THE OBLIGEE
11. PERFORMANCE BONDS: FINANCING THE PRINCIPAL
12. PERFORMANCE BONDS: TENDER OF THE COMPLETING CONTRACTOR
13. PERFORMANCE BONDS: TAKEOVER AND COMPLETION BY THE SURETY
14. CLOSEOUT OF THE TROUBLED PROJECT
15. POSTCOMPLETION CLAIMS
16. BANKRUPTCY CONSIDERATIONS
17. INDEMNITY
18. SUBROGATION RIGHTS
19. EXTRA-CONTRACTUAL DAMAGES
20. USE OF ATTORNEYS AND CONSULTANTS
21. ARBITRATION
22. INTERACTION OF SURETYSHIP WITH INSURANCE