Deciphering and Navigating the Terms and Conditions of Industry and Modified Form Performance Bonds

Please join NASBP for an important virtual seminar on understanding the terms and conditions of both industry standard form and modified form performance bonds. In order to understand the risks sureties, undertake by issuing performance bonds and that contractors undertake, through the indemnity agreement with sureties and the underlying construction contract, bond producers, sureties, and contractors need to be knowledgeable about the potential practical impacts of the terms and conditions in every bond form. The change of only a few words or one term can increase the surety’s risk profile dramatically. This seminar will give you the tools to understand the impact of various clauses commonly found in performance bonds and will help you decipher performance bond language.

Peter Strniste

Partner

Gordon Rees Scully Mansukhani, LLP

Peter Strniste dedicates his practice to construction and surety law, business litigation, and the negotiation of all types of construction contracts. He is a member of the firm’s Construction Group, and he counsels clients on issues surrounding all aspects of construction projects. Mr. Strniste has been representing construction sureties in connection with transactions and claims for over twenty years. He routinely represents clients in the Courts of New York, Massachusetts and Connecticut. His bio can be reviewed here: https://www.grsm.com/lawyers/p/peter-e-strniste

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