Lawyer: Case shows need for owners to comply with bond terms

02/13/2013 | Lexology.com (free registration)

A court has determined that a surety was not required to provide coverage for a troubled condominium project because the owner had failed to comply with the terms of the performance bond. The case illustrates that owners "must be faithful in adhering to the exact terms of the performance bond if there is any likelihood that it will need to be invoked," according to the lawyer who wrote this article.

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