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Construction Surety Bond and Bond Claims

 
In addition to Mechanics' Liens and Attested Account Claims, a construction surety bond is another mechanism by which a lower-tier contractor or supplier may recover for costs incurred in furnishing material and labor to a project (although a claimant will only be able to recover once). Typically, most public construction projects and many private projects involve one or more payment or performance bonds that guarantee a contractor;s performance. This section will identify the parties to a construction surety bond and their relationship to each other, address some of the differences between a construction surety bond and insurance; and describe the types of surety bonds and the distinctions between them. The section will also generally discuss the process for making claims against a construction surety bond, as well as identify some typical surety defenses.

Agenda

Faculty

Nora E. Loftus, Esq.

Nora E. Loftus, Esq.

Frantz Ward LLP

  • Attorney with Frantz Ward LLP focusing practice on all areas of construction law from front-end documents through project closeout and dispute resolution
  • Practice includes risk management and claims avoidance
  • Named in Chambers USA as Associate to Watch, 2012 and 2013
  • Named an Ohio Super Lawyers Rising Star, 2012 and 2013
  • J.D. degree, Cleveland State University; B.A. degree, Miami University
  • Can be contacted at 216-515-1665 or [email protected]

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