Surety bonds are an agreement involving a principal, an obligee and a surety company that issues the bond for a fee. In most cases, the obligee accepts a bid or application submitted by the principal.

Depending on one’s level of surety knowledge, some may call them payment bonds, another may say performance bonds, but insiders know they usually work collaboratively. Payment and performance bonds, ...

Performance bonds are also referred to as surety bonds. These are debt instruments that are purchased in connection with a contract between two businesses. One side of the contract is the service ...

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Scott Mollen discusses "JDS Dev. LLC v. Parkside Constr. Bldrs. Corp.," and Levy v. NYS Div. of Hous. & Community Renewal." Construction—Performance Bond—Noncompliance With Condition Precedent Bars ...

In their Construction Law column, Kenneth M. Block and Joshua M. Levy advise against the use of performance bonds, writing: The performance bond is for the benefit of the owner and, theoretically, ...