Bond Default Manual is a proven, go-to resource for the surety practitioner. As with the previous editions, this manual supplies the fundamental information and techniques necessary to expertly navigate performance bond defaults, along with pertinent insight from the country's most experienced industry practitioners. This manual has long been an indispensable resource for attorneys, company claim professionals, and consultants. Addressing how to investigate, analyze, and respond to bond default, this updated and expanded edition now comprises two complete volumes. Volume 1 provides in-depth discussion and analysis of the legal and practical issues relevant to the performance bond surety faced with a bond default. Volume 2 supplies the essential forms utilized by performance bond sureties when responding to and working through defaults.
Topics covered include: * Bond, contractual, and statutory provisions* The surety's investigation* The surety's use of consultants in connection with contract bond defaults* The surety's analysis of investigative results * Financing the principal* Takeover and completion* Tender* Completion by the bond obligee* Public works projects * Bankruptcy considerations and bond defaults * Extra-contractual damages considerations* Considerations in insurance coverage* Ethical issues in representing a principal and a surety* Salvage/subrogation considerations, and more