bond cancellation

[warso]

when is the term of a contract bond over. i would assume as soon as the contractor has contacted you and has informed you of project completion

[Riskwriter]

Exactly, the bond is not released until the obligee has signed off on the project and it's completion. There is not an exact term by which a performance bond would "expire". In fact, they do not expire and can be relased ONLY by the obligee whom they are protecting.

Originally Posted by warso

when is the term of a contract bond over. i would assume as soon as the contractor has contacted you and has informed you of project completion