Bonds issued on construction projects are often thought to be like policies of insurance.
However, a surety bond is not an insurance policy. A bond does not "insure" payment to persons providing labor and materials on a project; nor does it "insure" that a project will be completed. Unlike insurance, coverage under surety bond is limited by the terms of the bond and in most cases, it is limited to the penal sum of the bond. There are also events which must occur or fail to occur before a surety issuing a bond for any obligation and a surety has certain defenses to claims against its bond that can eliminate the very security which otherwise would be provided by the bond. The law relating to surety and sureties is also very different from that relating to insurance.
Agenda
Faculty
Brandon R. Ceglian
Law Offices of Brandon R. Ceglian, P.C.
- Attorney and owner of Law Offices of Brandon R. Ceglian, P.C. in Littleton, Colorado, with nearly 20 years’ experience
- Practice focuses primarily on residential and commercial evictions, property management issues, including legal compliance and defense in the Denver metro area and throughout the Colorado front range
- Published author on a variety of legal topics and a frequent speaker on landlord/tenant law and property management in Colorado
- Voted Best of the Best attorney by Colorado Community Media in 2014, 2016, and 2018
- Supplier member of the Colorado Apartment Association, the National Association of Residential Property Managers, and the South Metro Denver Realtor’s Association
- Member of the Colorado Landlord Legislative Coalition, providing legal assistance for the landlord legislative lobby in Colorado
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