The law of payment bonds second edition the law of payment bonds second edition this book addresses all aspects of payment bonds from the basic nature and purpose of payment bonds what they cover who is entitled to coverage under such bonds how a payment claim is made and supported to the defenses sureties have to claims. A payment bond is required on many construction projects in the construction industry the payment bond is usually issued along with the performance bondthe 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. This publication has been prepared for use in conjunction with the mid winter program of the fidelity surety law committee of the tort insurance practice section of the american bar association held in san francisco california on january 30 1998 p iii. Youre entitled to a copy of the payment bond remember this statement you are entitled to a copy of the payment bond no ifs ands or buts about this on construction projects in nearly every state and county if the project is a public work the state laws provide that you must be provided a copy of the payment bond upon request. The law of payment bonds2 d ed contents chapter 1 introduction to payment bonds en d podwill m lanak introduction 1 i payment bonds an 1 d the contract of suretyship ii histor 3 y and purpose iii types of paymen 5 t bonds a public bond 5 s federal public work 5 s projects 2 state public work 6 s projects b private 7 bonds
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