Bond-Pro | Surety Technology

Fidelity & Deposit Co. of Maryland (Zurich) Agrees To Pay $9.9M To End Fee Suit

Law360, New York (April 24, 2017, 5:18 PM EDT) — A surety bond company has agreed to pay just under $10 million to settle claims that a customer, debt-settlement payment processor Meracord LLC, charged illegal fees to debt-relief customers. Fidelity and Deposit Co. of Maryland will pay $9.875 million...

April 25, 2017 Bond-Pro Webmaster Blog, Claims, Repost.

Supreme Court of Canada to hear appeal from subcontractor arguing trustee must notify potential claimants of existence of surety bond

The Supreme Court of Canada announced Thursday it will hear an appeal from a subcontractor on an oilsands project who is trying to sue a general contractor for failing to inform it of the existence of a surety bond. Court records indicate that Langford Electric Ltd. was a subcontractor...

March 16, 2017 Bond-Pro Webmaster Blog, Claims, Repost.

City says contractor submitted forged bond paperwork for Brownsville construction project

Workers who built the Southmost Hike and Bike Trail in Brownsville claim they haven’t been paid. Jorge Contla said he worked on the hike and bike trail project as a subcontractor for ARRCO General Construction Group. The city of Brownsville, though, provided documents to CBS 4 News showing Contla...

March 3, 2017 Bond-Pro Webmaster Blog, Claims, Repost.

Understanding Your Surety’s Indemnity Agreement

Contractors on public and private projects are often required to obtain surety bonds to secure their bidding, payment, and performance obligations under a construction contract. A bond is a three-party contract entered into by the surety, the principal (contractor) and the obligee (owner) in which the surety guarantees to...

February 13, 2017 Bond-Pro Webmaster Blog, Claims, Legislation, Repost.

Lawsuit Filed Against University Estates

Once again, the University Estates development in northwest Athens is the subject of litigation, with a bonding company called Developers Surety & Indemnity filing a complaint against UE and its former developer Dr. Richard Conard, along with secretary Elizabeth Conard. During Conard’s time developing University Estates, the allotment off...

February 10, 2017 Bond-Pro Webmaster Blog, Claims, Repost.

Evansville Company’s Bankruptcy Stalls Progress On Several Major Construction Projects

EVANSVILLE, IN (WFIE) – Court documents show Peyronnin Construction filed for Chapter 7 bankruptcy on Monday. That means several multi-million dollar construction projects are in the lurch, including the McLean County Regional Water Treatment Plant, the International Blue Grass Museum, Owensboro Community and Technical College, and a gravity-fed sewer...

February 6, 2017 Bond-Pro Webmaster Blog, Claims, Repost.

Tampa Housing Authority Wishes, Fired Developer Gets Another Crack At Building Tempo Housing Project

TAMPA — The Tampa Housing Authority thought it had seen the last of the Siltek Group when in July it fired the contractor building a signature $25.6 million The Tempo at Encore was behind schedule and had fallen prey to shoddy workmanship and poor management, said Housing Authority officials....

January 30, 2017 Bond-Pro Webmaster Blog, Claims, Repost.

Hartford Ballpark Surety Insurer Sues Former Developer

The Arch Insurance Co. has filed a federal lawsuit against the former Hartford ballpark developer to recover what it describes as more than $8.4 million in losses as it pursues completion of the stadium. Arch last week sued Centerplan Development Co. of Middletown, the former developer of the Dunkin’...

January 16, 2017 Bond-Pro Webmaster Blog, Claims, Repost.

New Contractor Chosen To Finish Hartford Ballpark; Work Expected To Resume Next Week

A new contractor has been chosen to finish Dunkin’ Donuts Park, and work is expected to resume next week, an Arch Insurance official said Wednesday. The new contractor will be Baltimore-based Whiting-Turner Contracting Co., which has extensive experience in building sports venues, said Patrick Nails, a senior vice president...

October 6, 2016 Bond-Pro Webmaster Blog, Claims, Repost.

Former ITT Tech Employee Lawsuits

ITT Technical Institute suddenly shut down all of its campuses and online courses on September 6, 2016. By doing so, it puts approximately 8,000 employees out of work without warning. Those employees are fighting back. Former ITT Tech employee lawsuits have been filed in Delaware and Indiana. At least...

September 23, 2016 Bond-Pro Webmaster Blog, Claims, Repost.