When an owner requires a contractor to post a payment and performance bond, the contractor, invariably, provides a bond in the form of AIA Document A312-2010. The payment portion of the bond is ...

Construction contracts for commercial projects, including the ongoing boom in apartment projects, routinely require the general contractor and/or the subcontractors to provide performance bonds.

In their Construction Law column, Kenneth M. Block and Joshua M. Levy advise against the use of performance bonds, writing: The performance bond is for the benefit of the owner and, theoretically, ...