The Law of Performance Bonds
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The guide also contains chapters on litigation issues, such as venue and statute of limitations; the impact of arbitration clauses upon the surety; and issues that affect the surety in the event of a bankruptcy proceeding filed by the principal or indemnitor. Experts discuss issues that are the subject of recurring litigation, including challenges by third parties to a surety's right to contract balances; the use of the "strong-arm" provisions of the General Indemnity Agreement against recalcitrant principals or indemnitors; allegations of bad faith; and how to avoid the potential minefield presented by bankruptcy proceedings.
The guide includes a comprehensive discussion of the most current cases addressing these and other performance bond issues, and represents the most comprehensive and up-to-date treatment of performance bonds available anywhere.
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