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Construction of the Pentagon, 1942.. The Miller Act (ch. 642, Sec. 1-3, 49 stat. 793,794, codified as amended in Title 40 of the United States Code) [1] requires prime contractors on some government construction contracts to post bonds guaranteeing both the performance of their contractual duties and the payment of their subcontractors and material suppliers.
The subrogation right of the bond surety against the contractor (i.e., the right to sue for indemnification) is a deterrent to non-performance. Bond sureties often require additional security, including personal guarantees by principals of the prime contractor, to protect themselves in the event that the prime contractor ceases doing business ...
However, unlike a TRO, a prejudgment writ of attachment provides a source of financial recovery for a plaintiff. Usually, a plaintiff seeking a prejudgment writ of attachment must post a surety bond of up to two times the amount of the damages claimed by the plaintiff. Common grounds for obtaining a prejudgment writ of attachment are that a ...
Post a certified copy at the job site, too. The Notice notes the property owner's intent to begin improvements, the location of the property, description of the work and the amount of bond (if any). It also identifies the property owner, contractor, surety, lender and other pertinent information.
A supersedeas bond (often shortened to supersedeas), also known as a defendant's appeal bond, is a type of surety bond that a court requires from an appellant who wants to delay payment of a judgment until an appeal is over. [1] [2] This is a feature of common law, and in particular the American legal system.
Kersey is being held at the Southwestern Regional Jail in lieu of a $250,000 cash or surety bond. Hagerman is also being held at the regional jail on a $250,000 cash or surety bond with an ...