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  • videocam On-Demand
  • signal_cellular_alt Intermediate
  • card_travel Real Property - Transactions
  • schedule 90 minutes

Payment and Performance Surety Bonds in Construction Projects: Perspectives of Owners, Contractors, and Sureties

Asserting and Defending Surety Bond Claims and Exploring a Cost Effective Alternative to Protect Rights or Maximize Recovery

$297.00

This course is $0 with these passes:

CLE
ALL
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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.

Presented By

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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Credit Information

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


  • Live Online


    On Demand

Date + Time

  • event

    Tuesday, May 28, 2024

  • schedule

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

  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

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?