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  1. JAA
    JAA is offline Junior Member
    Join Date
    Nov 2009
    Posts
    1

    Changing Principals

    If a contract was awarded to one company and the when it is time to submit their bond, they indicate that they have exceeded their bond capacity. They now want to team with another vendor that has bond capacity.

    Where is this indicated that it is not allowed...
    Thanks
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  2. Admin
    Admin is offline Administrator
    Join Date
    Jan 2005
    Posts
    755

    If they bid using cash they may not get all of their funds back. If they bid using a bid bond, the surety may have a claim on their hands, as the bid bond is a guarantee that the surety will provide a performance bond if awarded the contract.
    Last edited by Admin; 11-09-2009 at 03:50 PM. Reason: Misread original post, made corrections.
    Surety Bond Articles
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