Release?

[chefman]

I have been awarded a public works contract which requires a payment and performance bond. Our company's internal policy is to hold checks until we receive ALL releases from subs and suppliers. If my contract required a bond, and I am still requiring my contractor to provide releases, am I being redundant?

[Phillies]

Originally Posted by chefman

I have been awarded a public works contract which requires a payment and performance bond. Our company's internal policy is to hold checks until we receive ALL releases from subs and suppliers. If my contract required a bond, and I am still requiring my contractor to provide releases, am I being redundant?

Perhaps, but it's a good redundancy to practive.