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#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.

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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.

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What Contractors Need to Know About Surety Bonds

Construction Marketing

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. The indemnity agreement provides that the principal will hold the surety harmless if a claim is filed against the bond. Sign the indemnity agreement.

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Does GC Insurance Cover Subcontractors?

Levelset

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. General liability insurance.

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What Is a Certificate of Insurance (COI) for Contractors — and When Do You Need One?

Levelset

If you’re bidding on contract work, you will likely need a COI per terms of a legal agreement. Aside from owners and GCs, a government entity may want to see proof of liability insurance. This party may want a COI to ensure they are protected from liability in the event of a product-related injury or accident.

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constructionattorneyblog: Limitation of Liability in new AIA Document

Construction Lawyer

His book, Legal Guide to AIA Documents, published by Aspen Publishing, is in its fifth edition. Sabo & Zahn LLC is an Illinois Limited Liability Company. You are not our client and we are not your attorneys unless and until you enter into a written retainer agreement with us. Limitation of Liability in new AIA Document.

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Litigation over First LEED Platinum Building Comes to an End

Green Building Law Update

District Court for Maryland, filed a Stipulation of Dismissal with Prejudice following a confidential Settlement Agreement and Mutual Release. Less than 50 days after the trial judge recited those facts in an opinion granting in part and denying in part cross motions for summary judgment, the parties entered into the Settlement Agreement.

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