The Law of Performance Bonds - 3rd Edition - Gregory Marc Weinstein

The Law of Performance Bonds 3rd Edition Gregory Marc Weinstein ISBN 9781641052931

Designed for both seasoned practitioners and those new to the field, The Law of Performance Bonds offers a comprehensive and practical analysis of the legal issues surrounding performance bonds. This fully updated edition begins with a foundational discussion of the suretyship relationship—how it is formed and the legal principles that govern it—before moving into an in-depth examination of default scenarios.

The book thoroughly addresses what constitutes a default, applicable notice requirements, and the rights and obligations of the surety once a default occurs. Dedicated chapters explore the surety’s rights to contract balances and the remedies available under the General Indemnity Agreement. The authors also examine the scope of a surety’s contractual and extra-contractual obligations and liabilities, identifying the rights and remedies available to principals and indemnitors, as well as the defenses a surety may assert in response to such claims.

In addition to substantive surety law, the guide tackles critical litigation-related issues, including venue selection, statutes of limitation, the impact of arbitration clauses on surety obligations, and the effects of bankruptcy proceedings involving principals or indemnitors. The authors analyze recurring areas of dispute, such as third-party challenges to a surety’s entitlement to contract funds, the use of “strong-arm” provisions in General Indemnity Agreements, allegations of bad faith, and strategies for navigating the complex risks presented by bankruptcy.

Drawing on the most recent and relevant case law, The Law of Performance Bonds delivers a detailed and current examination of performance bond issues. It stands as one of the most thorough and authoritative resources available on the subject, making it an indispensable reference for practitioners involved in construction, surety, and commercial litigation.

Table of Contents
Preface
Chapter 1: The Creation of the Relationship
Chapter 2: Conditions Precedent to Asserting a Performance Bond Claim
Chapter 3: Performance Options Available to the Surety
Chapter 4: The Performance Bond Surety’s Rights to Contract Funds
Chapter 5: Surety’s Rights of Recovery Against Principals and Indemnitors under Common Law and the Indemnity Agreement
Chapter 6: Surety’s Rights under the General Indemnity Agreement to Minimize Loss
Chapter 7: Right of the Surety to Pursue Claims Against Third Parties
Chapter 8: The Performance Bond Surety’s Exposure to Damages
Chapter 9: Extra-Contractual Liability of Performance Bond Sureties
Chapter 10: Common Defenses and Affirmative Claims Asserted by Principals and Indemnitors
Chapter 11: Defenses Available to the Surety
Table of Cases.

The Law of Performance Bonds 3rd Edition Gregory Marc Weinstein ISBN 9781641052931, 978-1641052931 & 9781641052948

Editor
Gregory Marc Weinstein
Kimberly Zanotta