• 15 minutes

What is a Performance Bond?


Who does the performance bond protect?

A performance bond comes into play when there is a default on the part of the general contractor. The obligation between the general contractor, the owner and the surety is to ensure proper completion of the contract. Subcontractors, suppliers, etc. have no protection under the performance bond. Their only protection is under the payment bond. This video reviews when a performance bond is required and who is require to obtain it and discusses the procedure under a performance bond when there has been a default on a project.

Runtime: 14 minutes



Danielle Cohen

Danielle Cohen

Tesser & Cohen

  • Partner at Tesser & Cohen
  • Focuses her practice on construction litigation and has represented a diverse range of con-struction clients, including owners, general contractors, subcontractors and material suppli-ers
  • Involved in both prosecuting and defending claims on private and public projects in New Jersey and New York, including delay claims, construction lien and mechanic’s lien foreclo-sure actions, defective work claims, bond claims, prompt payment act claims and trust fund issues
  • Immediate Past Co-chair, New Jersey State Bar Association, Construction Law Section
  • Selected to SuperLawyers 2022-2024; Selected to Rising Starts 2014-2021
  • Can be contacted at 201-343-1100, [email protected], or
Matthew Lakind

Matthew Lakind

Tesser & Cohen

  • Partner at Tesser & Cohen
  • Practice focuses on construction litigation
  • Represents project owners, general contractors, subcontractors, and suppliers
  • Involved in various types of claims and defenses associated with construction litigation, including construction lien foreclosures, payment and performance bond claims, home improvement contract disputes, equitable adjustment claims, cardinal change disputes, delay claims, and disputes regarding workmanship
  • Co-vice chair, New Jersey State Bar Association, Construction Law Section
  • Can be contacted at [email protected], 201-343-1100, or

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today

Access to all training products $699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.