Friday, September 11, 2015

Claims on a Payment Bond

Making a claim on a bond can be a difficult thing.  See more at the article below.See our WordPress page here.See our Facebook page here. a Claim against a Payment Bond Posted by a General Contractor or Sub-Contractorposted on: Monday, August 24, 2015In construction projects that are performed either on behalf of a municipality or a state agency, a general contractor and potentially a sub-contractor are typically required to post payment and/or performance bonds with the county or municipality. A general contractor or sub-contractor is required to post a payment and/or performance bond, because this ensures that sub-contractors or suppliers are paid, and enables the Township or state agency to have the work completed should the contractor fail to do so in a timely fashion. As a supplier or sub-contractor on such a municipal or state project, it is important to know

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