Seventh Circuit examines "pay-if-paid" provision
Construction Lawyer
JULY 20, 2012
Fidelity had issued a payment bond, but Fidelity refused to pay after the owner declared bankruptcy, and BMD sued Fidelity. Fidelity argues that the provision is a pay-if-paid clause, and because Industrial Power did not receive payment, it had no duty to pay the balance due to BMD. To " (Emphasis added.)
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