Remove Agreement Remove Claims Remove Construction Remove Liability
article thumbnail

#116:  Termination as a Condition of Performance Bond Liability

NH Construction Law

Wrongful termination will not only be a breach of contract giving the principal a claim for damages against the obligee, but it will forfeit the protection of the bond. Conversely, not terminating also forgoes the protection of the bond – if termination is an enforceable condition of the surety’s liability. 4th 12 (1st Cir.

article thumbnail

GA Court of Appeals Enforces Contract Clause, Excluding Liability for Incidental Damages Where Specific Performance Is Ordered

Constructlaw

(collectively DonRob) agreed to sell, and 360 Residential LLC, 360 Sugar Hill LLC, and 360 Capital Company LLC, (collectively 360) agreed to purchase 12 acres (Site) of a 37-acre parcel of property in Sugar Hill, GA (the Agreement). Between the Agreement date and the scheduled closing date, the parties’ relationship deteriorated.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

#95:  Are Miller Act Claims Arbitrable?

NH Construction Law

The Miller Act, the federal statute providing for payment bonds on federal construction projects to protect unpaid subcontractors and suppliers, provides that suits on the payment bond “must be brought. The Federal Arbitration Act instructs federal courts to enforce arbitration agreements according to their terms. ” U.S.

Claims 40
article thumbnail

What Contractors Need to Know About Surety Bonds

Construction Marketing

A surety bond is a contract between the following three parties: • Principal – The construction company or individual seeking the bond. If the principal’s bond application is approved, the surety company will require the principal to sign an indemnity agreement before it will issue the bond. Sign the indemnity agreement.

article thumbnail

Recent Decision Highlights the Potential Pitfalls in General Releases

Federal Construction Contracting Blog

the Court of Federal Claims reminds contractors to read claim release language carefully before executing any agreement or modification. Claims under TOs 22 and 25 were the subject of a contracting officer’s final decision, the denials of which T.H.R. brought suit in the Court of Federal Claims on the TO 26 claim.

article thumbnail

Additional Insured Endorsements & How They Work in Construction

Levelset

In short, an additional insured is typically another business entity or person who can be added to your business policy, securing the same liability protection that you do. In this article, we’ll explain additional insured endorsements, and how they work in construction. What is an additional insured? all of which operate differently.

article thumbnail

Does GC Insurance Cover Subcontractors?

Levelset

Accidents happen, especially in construction. At their core, insurance policies are agreements between two parties: the insurer and the policyholder. If a sub accidentally drops a steel beam on the project manager’s new sports car, that subcontractor’s liability insurance policy would likely cover the damage.