Which Bond Form Is Right for Me?

In today’s economy, payment and performance bonds are becoming more prevalent.  The rise in public projects through the Stimulus funds is one reason for the increase in bonded projects.  In addition, even private project owners now consider payment and performance bond requirements to provide additional security for assuring that their projects are completed by financially responsible contractors, and that a source of funding exists in the event a contractor becomes unable to complete the project or fails to pay its subcontractors.  As a result, bonding companies and legal practitioners are spending more time reviewing the various industry bond forms both from a negotiation and claims perspective.

This program will look at bonding options under the American Institute of Architect (AIA) and ConsensusDOCS forms respectively, and focus on developments and trends in securing both performance and payment obligations on a variety of projects and project delivery systems.  Our panelists will take an interactive view which will focus on a comparison between the AIA and ConsensusDOCS bond forms and offer practical advice on industry and legal trends on suretyship.

Our experienced panel will (1) explore the use of payment and performance bonds on construction projects; (2) provide an overview of the requirements of the bond forms prepared by AIA and Consensus DOCS and compare those requirements; (3) provide basic suggestions for selecting the bond form that bests suits your needs and project; and (4) identify potential litigation issues under both the AIA and ConsensusDOCS forms.

This program will provide both basic information to assist the lawyer in understanding the bond requirements under the standard industry forms as well as provide intermediate and advanced information regarding the distinctions between the various forms and provide tools for selecting the form that best suits your client’s needs.

Program Moderator
James E. Weatherholtz, Esq., Buist Moore Smythe McGee, P.A., Charleston, SC

Program Faculty
Deborah S. Griffin, Esq., Holland & Knight, Boston, MA
Catherine Squillace, Esq., Vice President and Counsel, Travelers Property Casualty Corp., Hartford, CT

$85 Forum on the Construction Industry and Tort Trial & Insurance Practice Section Members
$125 ABA Members
$150 General Public
$60 Each additional registrant using the same phone line

All participants must register for the program.

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