Construction suretyship is a tripartite relationship where a surety issues bonds to guarantee a contractor’s obligation for performance and payment to an “obligee.” Sureties expect that their bond obligations will mirror the contractor’s obligations as defined by the operative contracts. However, in certain circumstances, the surety’s liability may be greater than the contractor’s obligations and exceed the operative contract terms.
Scott W. Kowalski and Mark A. Burgin discuss one such circumstance in the February 2018 issue of the Virginia Lawyer magazine — can a surety assert defenses to payment bond claims based upon the clear terms of the underlying contract?
To learn more, read the full article titled "Defending Payment Bond Claims - What Is To Be Done?"
