Understanding AIA Document A312 Bond Forms

Lorman Education Services
Training overview
Professional Course
1.5 hours

Course description

Understanding AIA Document A312 Bond Forms

Understanding AIA Document A312 Bond Forms

Understand the process required to make and maintain a proper claim against the A312 Performance Bond. Many actors on a construction project, architects, owner representatives and their attorneys often do not understand how to properly terminate a contractor from a project and then allow the surety to perform the required investigation so as to properly maintain their rights against the surety under the A312 Performance Bond. Likewise, contractors and sureties (and their attorneys) sometimes do not recognize defenses to claims made against the A312 Performance Bond and, in some cases, may actually waive available defenses to claims against the Bond. This topic helps the persons on any side of a construction dispute (owner, architect, surety, and contractor) understand the process required to make and maintain a proper claim against the A312 Performance Bond. The topic also explains the possible defenses that might be asserted against a claim under the A312 Bond and actions parties to a contract should take to ensure that they don’t waive any rights they have under the A312 Performance Bond. This information is critical for construction industry professionals facing tough decisions when projects are going south.

Learning Objectives

  • You will be able to define and understand the basic workings of the A312 Bonds.
  • You will be able to describe the pitfalls associated with not honoring respective obligations under the A312 Bonds.
  • You will be able to identify defenses to claims made against a A312 Performance Bond.
  • You will be able to discuss the proper manner to present notice of a default under the A312 Performance Bond.

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    Who should attend?

    This live webinar is designed for architects, engineers, contractors, subcontractors, developers, contract managers, principals, presidents, vice presidents, owners and managers, and attorneys.

    Training content

    • Background: Purpose and History of AIA Document A312
    • The Parties: Obligees/Owners, Principals/Contractors, Sureties, Claimants (Subs and Suppliers)
    • Construction Fundamentals
    • Suretyship Fundamentals
    • The A312's Role and DevelopmentThe A312 Payment Bond
    • History
    • Revisions
    • Nationwide ApplicabilityThe A312 Performance Bond
    • A Tour Through the Form
    • Revisions
    • Nationwide ApplicabilityObligations of the Parties Under the A312 Performance Bond
    • The Surety's Obligations
    • The Owner's Obligations
    • The Principal's ObligationsThe Surety's Investigation Under the A312 Performance Bond
    • When Triggered
    • What's Involved?
    • Reasonable PromptnessSurety's Defenses Under the A312 Performance Bond
    • Owner Breach of Contract
    • Improper Termination
    • Owner's Breach of Implied Warranty
    • Owner Waiver of Rights

    Costs

    The cost of this Understanding AIA Document A312 Bond Forms live webinar is $219 per participant.

    About Lorman Education Services

    Lorman Education Services

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    Contact info

    Lorman Education Services

    Lorman Education Services
    2510 Alpine Road
    54702 Eau Claire Wisconsin

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