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- Title
Payment and Performance Bond Coverages and Claims.
- Authors
Hinchey, John W.
- Abstract
In the construction industry, payment and performance bonds are important in defining and guaranteeing contractors' obligations and parties' rights. The use of such bonds is widespread and extremely valuable when disputes arise during a job or after its completion. In this article, the author describes how payment and performance bonds can be used as well as some of the problems that might occur. The author advises that, when such bonds are to be used, all parties to the contract be fully aware of the rights and responsibilities involved.
- Publication
Arbitration Journal, 1986, Vol 41, Issue 2, p25
- ISSN
0003-7893
- Publication type
Academic Journal