Payment bond
Payment bond
- 1992
- Chartered Surveyor Weekly 40(3) 16 July 1992, 50-51(2) .
In "The Mercers Company v New Hampshire Insurance Co", CA 12 May 1992, it was held that a non-repudiatory and unsubstantial breach of a building contract by the employers does not wholly or partly discharge a surety from its joint and several liability under an advance payment bond to repay to the employers unearned advance payments made to the contractor.
ADVANCE PAYMENT BOND
ADVANCE PAYMENT
BUILT ENVIRONMENT-BUILDING CONTRACT FORMS
CLAIMS
FINANCIAL GUARANTEE
INTEREST
INTERIM PAYMENT
In "The Mercers Company v New Hampshire Insurance Co", CA 12 May 1992, it was held that a non-repudiatory and unsubstantial breach of a building contract by the employers does not wholly or partly discharge a surety from its joint and several liability under an advance payment bond to repay to the employers unearned advance payments made to the contractor.
ADVANCE PAYMENT BOND
ADVANCE PAYMENT
BUILT ENVIRONMENT-BUILDING CONTRACT FORMS
CLAIMS
FINANCIAL GUARANTEE
INTEREST
INTERIM PAYMENT