This PowerPoint presentation describes the funds administration method sureties use to offset the possibility of a claim against a payment bond. This PowerPoint describes the steps involved in the funds administration process and how funds administration benefits small and emerging contractors.
Topic
Claims, Funds Control, Payment Bond, Small and Disadvantaged Business Matters
Publish Date
November 25, 2024
Audience
Contractors
Resource Type
Presentation
Project Owners Beware – Don’t Eliminate Prime Bonds in Favor of Dual Obligee Status on Subcontract Bonds