Surety Bond Forums - JW Surety Bonds
  #1 (permalink)  
Old 09-19-2008, 10:07 AM
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Join Date: Sep 2008
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Default Lost Contractor

I over see all the construction that happens in my community. Last year the township and I approved the construction of a development and required the contractor to be bonded, which they complied with. About three months ago residents noticed that no more construction was happening in the development and there are no workers to be found. All calls to the main office are ignored and we already have paid half of total contract. Since this has never happened before I don't know who to contact to complete the work. Can we get our money back?
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  #2 (permalink)  
Old 10-19-2008, 08:57 AM
GBS GBS is offline
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Join Date: May 2008
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Grasshopper,
When you say the contractor was required to be bonded, do you mean he had to have a Contract Performance/Payment Bond in place to meet the contract requirements before he could start working? If that is the case and the contractor has disappeared you need to pull the bond on file for this job and contact the Surety Company that issued the bond. They will either pay the bond penalty via the claim process, or they also have the option to hire another contractor to finish the work.

GBS
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