C-612 2018 Warranty Bond

C-612 2018 Warranty Bond

$74.00

A warranty bond (sometimes referred to as a maintenance bond) provides assurance that Contractor (or if necessary the surety) will meet the contractual correction period obligations during a specified period of time after construction has been completed.

C‑612 is intended to be used to provide bonding for a period of time greater than one year after Substantial Completion. A warranty bond is typically not used if the correction period remains the standard one year after Substantial Completion, and the Contractor has furnished a performance bond.

Description

A warranty bond (sometimes referred to as a maintenance bond) provides assurance that Contractor (or if necessary the surety) will meet the contractual correction period obligations during a specified period of time after construction has been completed.

C‑612 is intended to be used to provide bonding for a period of time greater than one year after Substantial Completion. A warranty bond is typically not used if the correction period remains the standard one year after Substantial Completion, and the Contractor has furnished a performance bond.