Description
Course Description
Understand the process required to make and maintain a proper claim against the A312 Performance Bond.
Many actors on a construction project, architects, owner representatives and their attorneys often do not understand how to properly terminate a contractor from a project and then allow the surety to perform the required investigation so as to properly maintain their rights against the surety under the A312 Performance Bond. Likewise, contractors and sureties, and their attorneys, sometimes do not recognize defenses to claims made against the A312 Performance Bond and, in some cases, may actually waive available defenses to claims against the Bond. This topic helps the persons on any side of a construction dispute, owner, architect, surety, and contractor, understand the process required to make and maintain a proper claim against the A312 Performance Bond. The topic also explains the possible defenses that might be asserted against a claim under the A312 Bond and actions parties to a contract should take to ensure that they don’t waive any rights they have under the A312 Performance Bond. This information is critical for construction industry professionals facing tough decisions when projects are going south.
Learning Objectives
– You will be able to discuss the proper manner to present notice of a default under the A312 Performance Bond.
– You will be able to identify defenses to claims made against a A312 Performance Bond.
– You will be able to describe the pitfalls associated with not honoring respective obligations under the A312 Bonds.
– You will be able to define and understand the basic workings of the A312 bonds.
Presenter: Adrian D’Arcy, D’Arcy | Vicknair, L.L.C. William D. Mumfrey, D’Arcy | Vicknair, L.L.C.
Credits*: AIA, CLE, ENG, CPE
Time of program 65 min, 1 pm ET
Date of program September 26, 2024
