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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Real Property - Transactions

Date & Time
  • event Date

    Tuesday, May 28, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$297.00
CLE
ALL

This CLE course will provide construction counsel with a review of payment and performance bond coverage issues. The panel will outline key aspects of bond disputes and discuss best practices to maximize recovery and protect interests in disputes.

Faculty

Daniel Miktus
Partner
Akerman LLP

Mr. Miktus represents clients in the areas of construction contract drafting and negotiation, construction litigation, and government contract litigation. He has considerable experience representing clients in complex private and public construction and development disputes. Mr. Miktus’ construction practice focuses on large-scale commercial, multifamily, energy (including renewable energy sources), hospitality/hotel, infrastructure/transportation, data centers, health/life science, industrial, mixed-used, and warehouse/logistics developments.

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Ira M. Schulman
Partner, Co-Lead Construction Law Practice
Sheppard Mullin Richter & Hampton LLP

Mr. Schulman has more than 40 years of experience in all aspects of construction law with a particular emphasis on dispute resolution and contract negotiation. He has tried numerous complex construction disputes in jury and bench trials in state and federal courts and before arbitration panels on behalf of owners - both public and private - contractors, subcontractors, sureties and school districts. Mr. Schulman also has participated in many mediations and has successfully represented clients with construction contract award issues before various city agencies. Additionally, he regularly drafts construction contracts and agreements for owners and contractors. Mr. Schulman is often asked to speak before various bar, civic and trade associations on issues related to construction law.

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Description

Payment and performance bonds are critical risk management tools for construction project owners and contractors to ensure payment and performance by various stakeholders when economic risks jeopardize timely and on-budget completion.

While surety bonds reduce risks inherent in construction projects generally, they are particularly critical in an economic climate with heightened risks of contractor default and owner financial difficulties.

Construction law practitioners must understand the complicated issues that can arise when a party makes a claim under a surety bond to avoid costly traps and pitfalls.

Listen as our authoritative panel of construction attorneys examines surety bond coverage issues and disputes and identifies common traps and pitfalls to avoid in asserting or defending surety bond claims.

Outline

  1. Payment bond coverage issues and common disputes
    1. Parties and work qualifying for coverage
    2. Recovery for extra work, delay damages, profits, etc.
    3. Surety obligations and defenses
  2. Performance bond coverage issues and common disputes
    1. Declaration of default and surety options
    2. Covered claims
    3. Surety defenses to owner's claims on the bond
    4. Owner's claims against the surety
  3. Best practices for maximizing recovery and protecting interests

Benefits

The panel will review these and other vital questions:

  • What protections do payment and performance bonds provide various stakeholders in the project?
  • What are some of the more common pitfalls in making claims against surety bonds?
  • What lessons can counsel learn from recent case law to preserve and protect bond claim rights?