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  1. warso
    warso is offline Junior Member
    Join Date
    Nov 2005
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    7

    bond cancellation

    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
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  2. Riskwriter
    Riskwriter is offline Administrator
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    Jan 2005
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    54

    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.

    Quote 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
    Surety Bonds for all classes of business.
    JW BOND CONSULTANTS, INC.
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