Tag Archives: salvage rights

The Surety’s Salvage Rights Against the Principal, Indemnitors, and Third Parties: What Do Bond Producers Need to Know?

IT HAS OFTEN been said that a contractor’s bonding capacity is its lifeblood. On more than one occasion, I have been told by contractors that their bond producer is their most important business partner. In addition to helping contractors get the bonds they need, bond producers must also be prepared to serve as an advisor to the contractor/bond principal when something ...

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