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Bonded to performance?

By: Language: English Series: Contract Journal ; 389(6136) 30 July 1997, 16(1)Publication details: 1997Subject(s): Summary: Considers performance bonds in the case of "Oval 717 Ltd v Aegon", and the implication that the courts will uphold any stipulation within a performance bond requiring that the Surety should be kept informed of the performance of the contractor under the principle contract as a condition precedent to the operation of the bond itself.

Considers performance bonds in the case of "Oval 717 Ltd v Aegon", and the implication that the courts will uphold any stipulation within a performance bond requiring that the Surety should be kept informed of the performance of the contractor under the principle contract as a condition precedent to the operation of the bond itself.