Labour & Material Payment Bonds
Financial and other risks are inherent to construction projects of all sizes. Labour and material payment bonds guarantee that subcontractors and suppliers receive payment for work and materials. These bonds are best addressed by construction lawyers with specific experience with these documents and an understanding of how to make a claim, when to make a claim, and how much you can claim. The team at Rousseau Mazzuca LLP is well-versed in all of the nuances of labour and material payment bonds and has extensive experience acting for project owners, general contractors, and subcontractors.
We can assist our clients with:
The process of obtaining a labour and material payment bond;
The dispute resolution process under these bonds;
Enforcing payment under these bonds.
THE BENEFITS OF OBTAINING A LABOUR AND MATERIAL PAYMENT BOND
More and more frequently, owners require general contractors to obtain labour and material payment bonds to protect those who supply labour and materials, project owners, and contractors by guaranteeing that suppliers and subcontractors are compensated.
Protection for project owners and general contractors
The bond can ensure that work on a project keeps going and a project is completed on time.
Protection for contractors and subcontractors
The bonds can assist contractors and subcontractors and help them obtain payment for their work.
