Analysis: Ruling shows that bonds may be subcontractors' only way to recover payment

03/21/2012 | JDSupra.com

A New Jersey Appellate Division decision states that subcontractors are not assured payment by construction lenders in the event that the contractors they were working with go bankrupt. Without an explicit agreement with construction lenders, subcontractors have to turn to other sources, including bonds, for payment in such cases.

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