Surety Bonds

Respected Boston Construction Law Attorneys Handling Issues Related to Surety Bonds

Surety bonds are required on most large federal, state, and private construction projects. While most contractors understand the necessity of surety bonds, many fail to understand the legal relationships and obligations established between contractors, owners, and the surety. At Cosgrove, Eisenberg & Kiley, P.C., our attorneys have significant experience representing principals, obligees, and sureties in matters related to surety bonds.

Surety Bonds

The Miller Act requires that all contractors working on federal construction projects obtain performance surety bonds to guarantee the contractor will complete a project according the terms of a contract. Performance bonds are only one type of surety bond. There are several types of surety bonds and one or more may be required for any construction project:

  • Bid bonds - This type of surety bond guarantees that contractors will honor any bids that they submit for construction projects. If the contractor fails to honor a bid, the contractor and the surety may both be held liable for the cost of reopening the bidding process.
  • Performance bonds - This type of surety bond guarantees that the project will be completed. If a contractor fails to complete a construction project the surety becomes responsible for its completion. Performance bonds typically involve the surety completing the project through a completion contractor, finding a new contractor, or paying the owners for the cost of finding a new contractor and completing the project.
  • Payment bonds - These surety bonds guarantee that primary contractors will pay suppliers and subcontractors according to the terms of their contracts. Owners, subcontractors, and suppliers can sue the primary contractor for recompense on payment bonds.

Our attorneys have substantial experience representing contractors and subcontractors regarding surety bond matters and disputes. In addition, we are prepared to represent contractors, subcontractors, and suppliers in non-performance litigation and arbitration related to surety bonds. We have a forty year history of providing outstanding legal representation and are dedicated to putting our tradition, insight, and experience to work for our clients.

Contact Our Attorneys for an Initial Consultation

Contact the lawyers at Cosgrove, Eisenberg & Kiley, P.C. regarding any issues related to surety bonds. Our attorneys can be reached by phone at either our Quincy or Boston, Massachusetts offices, by e-mail, or by filling out the intake form on our Contact page.