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Old 09-05-2007, 12:10 PM
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Default GC Dual Surety Bond

Question, What is achieved by requiring a General Contractor provide a Dual Surety Bond for Payment and Performance? What does a Dual bond do. I am told it is to be provided to cover the Owner as well as the Lender.
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Old 09-05-2007, 03:32 PM
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Default Dual Surety Bond

Quote:
Originally Posted by apprentice35
Question, What is achieved by requiring a General Contractor provide a Dual Surety Bond for Payment and Performance? What does a Dual bond do. I am told it is to be provided to cover the Owner as well as the Lender.
I've never heard of a Dual Surety Bond for Payment and Performance. If you can provide some more information about it, we'd be happy to see if we can help you.
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