Surety Bonds: A Basic Primer and the Insolvency Twist

June 2014Articles Fidelity and Surety Committee Newsletter

Much has been written about the effects of the economy upon the construction industry. This newsletter will focus upon a unique perspective applicable to the surety context. Commercial and sometimes residential construction compels the necessity for a contractor to obtain a surety bond to guarantee performance leading to the successful conclusion of a construction project. Upon that occasion, a general contractor will obtain a surety bond from an authorized underwriter.

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