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. The court also extensively analyzed the issue of whether the subcontractor had a claim against the surety regardless of whether the principal is liabile for payment under the subcontract. Sabo & Zahn website.
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