Performance Bond Benefit–Cost Analysis
L Myers, FT Najafi - Transportation research record, 2011 - journals.sagepub.com
A performance bond provides the assurance that an awarded construction project will be
satisfactorily completed in the event that the contractor is unable to complete the project as
agreed and the contract is terminated. First passed into US law in the late 1800s,
performance bonds protect against financial losses. The ability of contractors to provide a
performance bond has mistakenly been assumed as a guarantee that contractors will
perform well on the projects they are awarded. Indications are that there is a need to …
satisfactorily completed in the event that the contractor is unable to complete the project as
agreed and the contract is terminated. First passed into US law in the late 1800s,
performance bonds protect against financial losses. The ability of contractors to provide a
performance bond has mistakenly been assumed as a guarantee that contractors will
perform well on the projects they are awarded. Indications are that there is a need to …
[ZITATION][C] Performance Bond Performance Bond Benefit-Cost Analysis
L MYERS, DRF NAJAFI, DRF NAJAFI - 2011