Aia Performance Bond

ConstruCtion Law Beware Of The AIA Form Of Performance Bond
Provides bonds in the form of AIA Document A312-2010 (the “A312”). The payment bond is primarily for the benefit of the contractor’s sub-contractors and allows the subcon-tractors to make claim on the bond for nonpayment. The performance bond is for the benefit of the owner and, theoretically, allows the owner to make claims on the bond ... Document Viewer

Home - AIA Bond Forms
As a service and convenience to NASBP members, affiliates, and associates, NASBP is providing the following information about the new, revised American Institute of Architects (AIA) Bond forms, AIA A312 Performance Bond and Payment Bond and the AIA A310 Bid Bond. ... Doc Retrieval

How Payment Bonds Work On Construction Projects
A payment bond is required on many construction projects. In the construction industry, the payment bond is usually issued along with the performance bond.The payment bond forms a three-way contract between the Owner, the contractor and the surety, to make sure that all subcontractors, laborers, and material suppliers will be paid leaving the project lien free. ... Get Document

The AIA Performance Bond Form Is Not Perfect - Here Are A ...
Below is a really nice article that goes over one of the standard AIA forms for a performance bond. Most sureties utilize the AIA forms and they are readily accepted in the industry. That said, they are not perfect and may not suit every single requirement (instead, they are created to fit MOST situations). ... Access Full Source

Procedural Differences For Claims On Standard Form ...
The procedures for an owner to declare default on a performance bond differ across these standard forms. The AIA provides two distinct performance bond forms: AIA A312 (2010 and 1984 eds.) and the earlier AIA A311 (1970). A312 is the most widely-used traditional performance bond in private construction. ... Access Content

Damages caused by delayed performance or non-performance of the Contractor. § 8 If the Surety elects to act under Section 5.1, 5.3 or 5.4, the Surety’s liability is limited to the amount of this Bond. ... Fetch Doc

Beware Of The AIA Form Of Performance Bond - Law.com
Beware of the AIA Form of Performance Bond 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 ... Fetch This Document

A312 Performance Bond And Payment Bond (Replaces A311) - AIA ...
AIA Document A312™–2010 incorporates two bonds—one covering the contractor’s performance, and the other covering the contractor’s obligations to pay subcontractors and others for material and labor. ... Get Document

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Damages caused by delayed performance or non-performance of the Contractor. § 8 If the Surety elects to act under Section 5.1, 5.3 or 5.4, the Surety’s liability is limited to the amount of this Bond. ... Fetch Doc

Never Accept An AIA A312 Performance Bond From A ...
By Bill Blancato, special to North Carolina Construction News. There is an old adage: “Never say never.” This is usually good advice, but when an owner bonds a general contractor or a general contractor bonds a subcontractor you need to ignore the adage and NEVER accept an AIA A312 performance bond from the general contractor or subcontractor. ... Document Retrieval

Contractdocs Help
Both bonds require identical information on them, but each bond must be executed separately. Even though AIA Document A312 contains both bonds, they are still very separate bonds. The completion of one bond (e.g., the Performance Bond) is not sufficient to bind the parties to the other (e.g., the Payment Bond). ... Access Full Source

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Sorry we could not verify that email address. Enter your email below and we'll send you another email. {* #resendVerificationForm *} {* signInEmailAddress *} ... View Doc

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Payment & Performance Surety Bonds For DOT & AIA Contracts
Contract payment and performance surety bonds for your AIA, DOT, private and other contract bonds needs. Contractors that are awarded a contract through the bid bond process usually need to obtain a payment and performance bond. SuretyGroup.com has the bond you need! Call us today! ( 844) 432-6637 ... Fetch Document

AIA Forms - A312-2010 Performance Bond And Payment Bond
AIA Forms - A312™ Performance Bond and Payment Bond. The AIA A312™-2010 Performance Bond and Payment Bond incorporates two bonds - one that covers the contractor's performance, and another that covers the contractor's requirement to pay subcontractors and others (such as material suppliers) for material and labor. ... Access Doc

Bond - Old Republic Surety Company
PERFORMANCE BOND The American Institute of Architects, AIA Document No. A312 (December, 1984 Edition) Any singular reference to Contractor, Surety, Owner or other ... Doc Viewer

THE AMERICAN INSTITUTE OF ARCHITECTS - Performance Bond
The Company executing this bond vouches that this document conforms to American Institute of Architects Document A312, 2010 edition 2 furnished for use in the performance of the Construction Contract, then the Surety and the Contractor shall have no obligation under this Bond. ... Get Content Here

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THE AMERICAN INSTITUTE OF ARCHITECTS - Surety One
The Company executing this bond vouches that this document conforms to American Institute of Architects Document A312, 2010 edition 2 Owner’s notice. If the Owner, the Contractor and the Surety agree, the Contractor shall be allowed a reasonable ... Return Document

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