HERRIN & ALEXANDER LLC
Surety Law
Attorneys With Proven Experience in Surety Law
We value working with our surety clients and assisting with their sometimes very complex issues. Our attorneys have been involved with representing sureties for over 30 collective years.
EXPERIENCED
Surety & Construction Law
We assist and represent sureties in claims involving payment bonds, performance bonds, probate bonds, lien bonds, and other types of bonds.
Factual investigation and legal evaluation of alleged defaults by bond principals
Procurement to complete performance when appropriate
Enforcement of indemnity and subrogation rights
Perform, obtain, and coordinate engineering evaluations
Negotiate agreements for surety contracts
Resolve disputes related to surety bonds
Surety Bonds: Minimize Risks & Provide Protection
Simply put, surety law is the promise by one party to step in and assume responsibility for the financial obligations of another party if that person or company fails to meet their obligations.
Typically, a surety bond is a written promise from a guarantor to pay an obligee a set amount of money if the principal fails to meet their defined obligation. That obligation is usually the promise of the principal to fulfill a contract.
A surety bond involves three parties:
- The principal: This is the person or company that purchases a bond and agrees to perform the work in a well-defined and financially responsible manner.
- The obligee: This is the company, person or agency that requires the principal to purchase the bond for a service to be performed.
- The surety: This is an agency that is guaranteeing the work of the principal and is assuming the liability for any claims against the principal up to the full amount of the bond, subject to specified terms, conditions, and law.
Our lawyers have been working with sureties for over 30 collective years. We enjoy helping sureties resolve their legal issues, which at times may be quite complex. Call us to discuss your case today.
Construction Law Attorneys
Our attorneys have been successfully representing our clients with all the different aspects of construction and surety law for over a collective three decades. Our areas of expertise include:
Surety law
Bonds
Insurance
Contracts
Commercial law
Torts
Litigation & appeals
Legal history and landmark cases in construction and surety law, our attorneys have been a part of it all. Our attorneys represent sureties, contractors, subcontractors, property owners, developers, insurance carriers, and anyone else that might play a role in the construction industry. Allow our attorneys to help you navigate the legal challenges that can arise in construction.
