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Payment bond

Language: English Series: Chartered Surveyor Weekly ; 40(3) 16 July 1992, 50-51(2)Publication details: 1992Subject(s): Summary: 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.

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.