Lorman offers professional resources regarding COVID-19 and the 2020 Election

Available in:

OnDemand Course

Construction Payment and Performance Bond Fundamentals

Learn the requirements for submitting claims and benefits and drawbacks of requiring bonds on a particular project.

Many contractors do not know what their rights are related to payment and performance bonds. This topic will discuss the fundamentals of payment and performance bonds, highlighting the claims process, as well as issues every contractor should be aware of. The information will give some insight on what happens after a performance or payment bond claim is filed. The material will include critical information for any contractor related to time and notice limitations, and necessary steps, to make sure that a bond claim is properly filed and can be enforced.

Runtime: 95 minutes
Purchase Options

More Program Information

Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

What Is a Performance Bond?

  • When Is a Performance Bond Required? Who Is Required to Obtain a Performance Bond?
  • What Is the Procedure Under a Performance Bond When There Is Default on a Project?

What Is the Scope of the Surety's Obligations Under a Performance Bond?

  • What Is a Payment Bond?
  • When Is a Payment Bond Required? Who Is Required to Obtain a Payment Bond?
  • What Is Covered Under a Payment Bond?

How to Submit a Payment Bond Claim

  • What Notification Is Required?
  • Who Can Submit a Payment Bond Claim?
  • What Happens After a Payment Bond Claim Is Submitted?
  • Enforcement of Payment Bond Claim.

Benefits and Drawbacks of Payment and Performance Bonds

Purchase Options

More Program Information

Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on June 18, 2019.

Call 1-866-352-9540 for further credit information.

  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Purchase Options

More Program Information

Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Danielle Cohen

Danielle Cohen

Tesser & Cohen

  • Associate at Tesser & Cohen
  • Focuses her practice on construction litigation and has represented a diverse range of construction clients, including owners, general contractors, subcontractors and material suppliers
  • 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 foreclosure actions, defective work claims, bond claims, prompt payment act claims and trust fund issues
  • Co-vice chair, New Jersey State Bar Association, Construction Law Section
  • Can be contacted at 201-343-1100, [email protected], or https://www.tessercohen.com/danielle-cohen.html
Matthew Lakind

Matthew Lakind

Tesser & Cohen

  • Associate at Tesser & Cohen
  • Practice focuses on construction litigation and representation includes 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-secretary, New Jersey State Bar Association, Construction Law Section
  • Can be contacted at 201-343-1100, [email protected], or https://www.tessercohen.com/matthew-lakind.html
Purchase Options

More Program Information

Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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
With This Course

Access to all training products for one year
$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.

Product ID: 405698
Published 2019
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!