Construction Law Monitor Topics
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Construction Contracts, payment bonds, performance bonds, Public Contracting
On Mar 02, 2015
In case of government contracts, there is lot more at stake than private construction projects, as there are many stake holders in the form of tax paying citizens, who will proactively seek answers if the project goes over-budget or any thing that can go wrong, actually does. Payment and performance bonds become extremely important in this scenario to ensure quality construction with in the time frame. I would also strongly recommend these bonds to be used in private construction projects to ensure prompt payment and quality.
Perhaps that is why I look on those in the construction industry with reverence.
Stakes are very high for those people.
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