by Kent Holland | Apr 27, 2021 | Newsletter Article
GC barred from recovering from the surety for damages allegedly incurred due to faulty work of subcontractor because it failed to meet the conditions precedent to the performance bond responsibility. The surety bond expressly provided that obligations of the surety...
by Kent Holland | Mar 1, 2019 | indemnification clause, Newsletter Article
An indemnification clause will only apply to liability for claims brought by third parties. It will not apply to claims between the contracting parties. In Florida, a contract’s general indemnity clause does not apply to first party claims for costs and expenses...
by Kent Holland | Oct 9, 2012 | Newsletter Article
Where a General Contractor that entered into a contract with a nursing home was required to have a performance bond from a surety company (Safeco) and was default terminated by the project owner, the surety completed the project and sued the “obliges” under the bond,...
by Kent Holland | Feb 9, 2011 | Newsletter Article
By: Robert J. MacPherson, Esq. Surety bonds are contracts and the rights and obligations of the parties will be determined in accordance with basic principles of contract law. The size of the claims and complexity of the project will not impact the result. That is...
by Kent Holland | Feb 9, 2011 | Newsletter Article
What a difference 12 months make! In the late spring of 2000, the news was the continued profitability of the surety business with expectations that, as long as the construction economy continued to grow, conditions in the surety market would continue to be favorable...
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