Shopping Cart (0) items Sign In

Construction Claims Monthly - Devoted exclusively to the problems of construction contracting since 1963

‹ Prev article: 
 

Surety Can Settle Claims Without Consent Bonds-performance; Indemnification

Tuesday, August 09, 2005 03:00 pm

 

A federal district court has ruled that a performance surety could settle claims against the bond without the consent of the contractor and then be indemnified by the individual shareholders.

HRH Construction, Inc. was the general contractor on a project at 1400 Fifth Avenue in New York City. HRH subcontracted the carpentry and drywall work to Tres, Inc. Tres furnished a performance bond, issued by Fidelity Guaranty Insurance Co. (FGIC), naming HRH as the obligee.

HRH complained that Tres was not staffing the job at adequate levels. After giving proper notice to Tres and FGIC, HRH terminated the subcontract for default. FGIC then investigated the cost [...]

 
› Next article: 
 
Sign up now for Construction Claims Monthly Online! Your own virtual help desk of must-have techniques, tutorials, and how-to articles.
 
Join Now Construction Claims Monthly! Close
 
×

Dear Valued Customers,

We regret to announce that ProEdTech LLC and all its affiliate brands will cease operations on April 1, 2019.

We are no longer able to fulfill online orders. We will fullfill all DVD and book orders already placed.

Customers of canceled webinars and subscription products may request a refund at (800) 223-8720 or service@proedtech.com. You must do so by April 1, 2019.

Thank you for your business and loyalty over the years. We sincerely apologize for any inconvenience caused.


Best regards,
The ProEdTech Team