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A Tip for Performance Bond Obligees: for Maximum Protection, Obtain Increase Riders with Change Orders by Lewis Roberts P.L.L.C. - Raleigh Office
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May 17, 2012
Previously published on May 17, 2012
It's tempting to assume that change orders automatically increase the penal sum of a performance bond that expressly waives notice of contract modifications, but pursuant to a 1992 case out of the U.S. Bankruptcy Court for the Eastern District of Tennessee, that assumption might be misplaced.
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