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Indemnity Agreement Hung On Owner's Default Declaration

Thursday, December 02, 2010 01:30 am

 

Surety, Indemnity

Cagle Construction, LLC v. The Travelers Indemnity Company, 2010 Ga. App. Lexis 790 (Aug. 25, 2010)

The owner said the contractor had defaulted, and so it was -- according to the contractor's surety agreement. The Travelers Indemnity Company (Travelers) sought recovery for losses incurred in finishing the work of Cagle Construction, LLC (Cagle) on four bonded projects under a general indemnity agreement. Before Cagle completed all its work on the four projects, owner Georgia Department of Defense (GDoD) dismissed the contractor and demanded the surety complete each project. Travelers paid out more than $700,000 in claim payments, comp[...]

 
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