Course description
Understanding AIA Document A312 Bond Forms
Understand the process required to make and maintain a proper claim against the A312 Performance Bond. Many actors on a construction project, architects, owner representatives and their attorneys often do not understand how to properly terminate a contractor from a project and then allow the surety to perform the required investigation so as to properly maintain their rights against the surety under the A312 Performance Bond. Likewise, contractors and sureties (and their attorneys) sometimes do not recognize defenses to claims made against the A312 Performance Bond and, in some cases, may actually waive available defenses to claims against the Bond. This topic helps the persons on any side of a construction dispute (owner, architect, surety, and contractor) understand the process required to make and maintain a proper claim against the A312 Performance Bond. The topic also explains the possible defenses that might be asserted against a claim under the A312 Bond and actions parties to a contract should take to ensure that they don’t waive any rights they have under the A312 Performance Bond. This information is critical for construction industry professionals facing tough decisions when projects are going south.
Learning Objectives
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Who should attend?
Training content
- Background: Purpose and History of AIA Document A312
- The Parties: Obligees/Owners, Principals/Contractors, Sureties, Claimants (Subs and Suppliers)
- Construction Fundamentals
- Suretyship Fundamentals
- The A312's Role and DevelopmentThe A312 Payment Bond
- History
- Revisions
- Nationwide ApplicabilityThe A312 Performance Bond
- A Tour Through the Form
- Revisions
- Nationwide ApplicabilityObligations of the Parties Under the A312 Performance Bond
- The Surety's Obligations
- The Owner's Obligations
- The Principal's ObligationsThe Surety's Investigation Under the A312 Performance Bond
- When Triggered
- What's Involved?
- Reasonable PromptnessSurety's Defenses Under the A312 Performance Bond
- Owner Breach of Contract
- Improper Termination
- Owner's Breach of Implied Warranty
- Owner Waiver of Rights
Costs
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