Construction contracts for commercial projects, including the ongoing boom in apartment projects, routinely require the general contractor and/or the subcontractors to provide performance bonds.

K-Con, Inc. v. Sec’y of the Army, 2018 U.S. App. LEXIS 31196 (Fed. Cir., November 5, 2018) In September 2013 K-Con, Inc. (“K-Con”) entered into two contracts with the government to supply and ...

Surety bonds are an agreement involving a principal, an obligee and a surety company that issues the bond for a fee. In most cases, the obligee accepts a bid or application submitted by the principal.

Performance bonds are also referred to as surety bonds. These are debt instruments that are purchased in connection with a contract between two businesses. One side of the contract is the service ...

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 ...

California public school and community college district voters approved $20 billion of construction loans in 2022, with more passing in 2023, using the Proposition 39 financing capability. The ...