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, ...

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.

An often-overlooked part of contract negotiations is the language included in the performance bond. While the owner or contractor (bond obligee) requires a performance bond and pays for it, ...