For NASBP members, http://nasbp.org has an insightful PowerPoint and Audio Presentation on recent court decisions regarding A312 Payment Bond. NASBP members and affiliates may use the PowerPoint Template to educate contractors and others on this issue. The Presentation addresses the following:
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background about A312 bond forms,
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relevant sections of the A312 bond form that address the claimant’s notice requirements and surety’s response requirements,
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information on three recent legal decisions that have caused concerns with responses to the A312 Payment Bond and
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surety industry responses and actions taken thus far.
- Excerpts from NASBP Focal Point
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Filed under: Construction Law, Surety Industry, Surety Legal Issues Tagged: | Surety Industry
