#96: Payment Bond Sureties and "Pay-if-Paid" Subcontracts
NH Construction Law
DECEMBER 19, 2020
If the principal is a general contractor with a “pay-if-paid” clause in its subcontracts, must a subcontractor wait for the general contractor to be paid before it can collect on a payment bond? It is often said that a payment bond surety may assert all of the contractual defenses to payment enjoyed by its principal. 267 F.Supp.3d
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