Combined Performance And Payment Bond I am an owner(obligee);I have a bond titled:PERFORMANCE & PAYMENT BOND-no exceptions ,except I must meet my obligations-the penal sum is $14,200,000.00.Does this mean that the penal sum is split 50-50 between Performance and Payment;or each carries the full penal sum?Please let me know,and if you have any legal case precedents on this ,I would appreciate;thanks;Ricardo Bird(President 800 PDL CORP.);ricardo_bird@yahoo.com is another email address. |