Many owners require contractors to obtain payment and performance bonds using the American Institute of ArchitectÆs A312 bond forms, but those bond forms require contractors, owners and sureties to contend with a number of challenges - the most recent of which is the surety industryÆs refusal to issue such bonds without modification because of the so-called 45-Day Rule. This teleconference is designed to help personnel responsible for obtaining bonds and administering contracts avoid the pitfalls presented by use of the A312 bond form and to modify the bonds in a way that will meet their business objectives. Particular attention will be paid to the 45-Day Rule modifications approved by the AIA and certain major sureties and to potential conflicts between bond terms and your contract terms. In the current credit crunch, the teleconference will also provide a primer on bankruptcy issues that may arise in the context of making a claim on one of these bonds.

Faculty: William Arthur DeVan, Howrey, L.L.P.

Verification and Attendance is the responsibility of Lorman Education For credit questions, please contact Lorman at 866-352-9540

On Demand CLE Hours: AK 1.5, AL 1.5, AZ 1.5, CA 1.5, IL 1.5, MO 1.8, MT 1.5, ND 1.5, OR 1.5, PA 1.5, TN 1.5, VT 1.5, WA 1.5, WI 1.5, WV 1.8

Self-Study CLE Hours: AK 1.5, AZ 1.5, CA 1.5, CO 2, GA 1.5, ME 1.5, MO 1.8, MT 1.5, ND 1.5, NV 1.5, OR 1.5, TX 1.5, UT 1.5, VT 1.5, WA 1.5, WV 1.8

On demand orders placed on a weekend or holiday will be fulfilled on the next business day.