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Bid Bond No Substitute For Missing Payment Bond Bonds-bid; Bonds-payment

Monday, June 02, 2003 02:58 pm

 
Bid Bond No Substitute For Missing Payment Bond Bonds-bid; Bonds-payment

A Louisiana court has ruled that when a public project owner failed to obtain a payment bond from a contractor, the owner could not use a bid bond to reduce its liability to an unpaid subcontractor.

The Caddo Parish School Board issued an invitation for bids for renovation of a building in Shreveport. In accordance with the state public procurement statutes, the solicitation required that bids be accompanied by a bid bond. The successful bidder would be required to furnish payment and performance bonds.

DBCS Corporation submitted the low bid, along with a bond issued by Patterson Insurance Co. T [...]

 
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