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AIA Document A312 Payment Bond Forms

 Lorman Education Services
nMany owners require contractors to obtain payment and performance bonds using the American Institute of Architect's A312 bond forms, but those bond forms require contractors, owners and sureties to contend with a number of challenges - the most recent of which is the surety industry's refusal to issue such bonds without modification because of the so-called 45-Day Rule. This teleconference is designed to help personnel responsible for obtaining bonds and administering contracts avoid the pitfalls presented by use of the A312 bond form and to modify the bonds in a way that will meet their business objectives. Particular attention will be paid to the 45-Day Rule modifications approved by the AIA and certain major sureties and to potential conflicts between bond terms and your contract terms. In the current credit crunch, the teleconference will also provide a primer on bankruptcy issues that may arise in the context of making a claim on one of these bonds.
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nLearning Objectives
n- You will be able to explain the difference between payment bonds and performance bonds.
n- You will be able to interpret terms and conditions of the A312 Payment Bond.
n- You will be able to paraphrase the 15-Day Rule.
n- You will be able to summarize the owner's right to make a claim on the payment bond.
This is primarily teleseminar training
instructor led trainingThis class may be available at a classroom in Milwaukee, WI,
Duration:1 days
Training Presented in:English
Training Provided by Lorman Education Services
Click here for more information or to take this course
AIA Document A312 Payment Bond Forms
Agenda

  1. Payment and Performance Bond Overview
    1. The Three Parties to a Bond
    2. Differences Between Payment Bonds and Performance Bonds
    3. A Word on Bankruptcy and Bonds
  2. The Peculiar Terms and Conditions of the A312 Payment Bond
    1. The 45-Day Rule and Modifications to the Bond Form
    2. The Owner's Right to Make a Claim on the Payment Bond
    3. Suggested Revisions to the A312 Payment Bond
  3. A312 Performance Bonds
    1. Reconciling Contract and A312 Bond Default Terms
    2. Particular Problems With Post-Completion Defaults
    3. The 15-Day Rule
About The Training Provider: Lorman Education Services
Lorman Education Services - Lorman Education is dedicated to providing cost-effective training opportunities that meet the needs of our members and enhance their skills, knowledge, and competencies. Please use Priority Code 16175 when registering. Lorman Education Services began offering continuing education seminars in 1987. Lorman Education is dedicated to providing cost-effective training opportunities that...
Click here for more information or to take this course
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