Construction Bonds: What Every Contractor and …

C o n s t r u c t i o n L a w Suite 900, Nelson Square Box 12144, 808 Nelson Street Vancouver, BC V6Z 2H2 Canada Tel: 604 681 6564 Fax: 604 681 0766 Construction Bonds: what Every Contractor and Owner Should Know By: Robert Jenkins, and Andrew Wallace, I N T R O D U C T I O N Construction projects typically involve multiple contractors with inter-dependent schedules and activities. When one Contractor experiences difficulties performing its portion of the work, this may have a significant ripple effect on the entire project. Ultimately, a Contractor s default may jeopardize timely completion of the work and significantly increase the cost to complete the project. Alternatively, an owner may hire only one Contractor .

3 3 Construction Bonds: What Every Contractor and Owner Should Know Construction Law The Canadian Construction Documents Committee standard form bid bond is a common form used

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