Chapter 12 - CHAPTER 12 CONSTRUCTION SURETIES

• Jurisdiction: Colorado

Chapter 12 CONSTRUCTION SURETIES

Jerome M. Joseph., Esq.
L. Jay Labe, Esq.
Vincent J. Wegher, P.E., Esq.

SYNOPSIS

§ 12.1 INTRODUCTION

§ 12.2 UNDERWRITING PRINCIPLES

§ 12.2.1-Background

§ 12.2.2-Role of the Agent

§ 12.2.3-Qualifying a Surety Bond Applicant

§ 12.2.4-Line of Surety Credit

§ 12.2.5-Indemnity Agreements

§ 12.3 PAYMENT BONDS

§ 12.3.1-Bond Types

§ 12.3.2-Contractual Relationships Covered by Payment Bonds

§ 12.3.3-Types of Claims Covered

§ 12.3.4-Notice Requirements

§ 12.3.5-Time Bars and Other Limitations upon Suit

§ 12.3.6-Commencement of Suit

§ 12.3.7-Liens on Contract Funds

§ 12.4 PERFORMANCE BONDS

§ 12.4.1-"Performance Bond" Defined

§ 12.4.2-Performance Bond Forms

§ 12.4.3-Parties Protected

§ 12.4.4-Obligee's Duties and Benefits

§ 12.4.5-Surety Obligations and Options on Principal's Default

§ 12.4.6-Surety Defenses

§ 12.5 SUBROGATION

§ 12.6 MISCELLANEOUS ISSUES

§ 12.6.1-Bid Bonds

§ 12.6.2-Obligee Due Diligence

§ 12.6.3-Individual Surety Bonds

§ 12.6.4-Damages for Loss of Bonding Capacity

§ 12.6.5-Projects Involving Multiple Bonds

§ 12.6.6-Bad Faith

§ 12.6.7-Public-Private Partnership - Bonding Requirements

§ 12.6.8-Effect of Bankruptcy

§ 12.6.9-Subcontractor Default Insurance

§ 12.6.10-Tender of Defense

§ 12.6.11-Lien Release Bonds - "Bonding Over"...