Washington, DC (PRWEB) June 07, 2011
Next week, WPL Publishing will host a webinar addressing the surety rights, duties, obligations, and defenses associated with construction bond and contract provisions.
Many construction contracts today require that surety bonds be provided to protect various parties to the contract. Most construction professionals are familiar with the process of obtaining surety bonds, but they may not be aware of the legal relationships that bonds establish among the principal (the contractor), the obligee (usually the owner), and the surety, and the liabilities that exist as a result. The webinar will review the rights, duties, and obligations of the parties as determined by the rules of contract interpretation and applicable precedents. To register for the 90-minute event, scheduled for Tuesday, June, 14, 2011, at 1:00 p.m. (EDT), visit http://tinyurl.com/63w3aow.
A surety bond is not an insurance policy. With a surety bond, the surety guarantees that the contractor, called the “principal” in the bond, will perform the “obligation” stated in the bond. For example, the “obligation” in a performance bond is that the principal will complete the project, and the “obligation” in a payment bond is that the principal will pay subcontractors and suppliers in a proper manner.
Attendees of the webinar, entitled “Construction Bond and Contract Provisions: A Review of Surety Rights, Duties, Obligations, and Defenses,” will learn how to do the following:
- Review surety rights, duties, obligations, and defenses.
- Examine performance options.
- Define specific contract provisions and understand what is recoverable.
- Discuss performance and payment bonds.
Addressing attendees will be Ober | Kaler Principal Barbara Werther. She has more than 30 years of experience in construction and government contracts law. She has represented contractors and owners in disputes regarding claims for delays, acceleration, inefficiencies, default terminations, and construction catastrophes, both in the private sector and on public projects. She also has represented sureties and contractors in performance and payment bond disputes as well as government contractors in False Claims Act cases.
Following Ms. Werther’s presentation, there will be an interactive 10-to-15 minute question-and-answer session addressing relevant topics.
Webinar tuition is based on location, not number of participants, so each registration site can have multiple participants for one low price. To register, visit http://tinyurl.com/63w3aow.
WPL Publishing Co., Inc. produces three construction newsletters: Construction Claims Advisor (http://www.constructionclaims.com), Green Building Insider (http://www.greenbuildinginsider.com), and Construction Advisor Today (http://www.constructionadvisortoday.com). The company also hosts webinar series on topics relevant to the construction industry. WPL is on Twitter at CAT_Online.