American Bar Association Forum on the Construction Industry 2012 Annual Meeting
Bellagio, Las Vegas, Nevada
April 26-April 28 2012
Jonathan Dunn presented a workshop titled: The Rumble in the Jungle--Letters of Credit vs. Bonding
Securing performance risk in alternative delivery projects: A consideration of letters of credit, bonding and insurance options for traditional and non-traditional delivery systems. What are the challenges for bonding companies in the Design-Build and CM world, and what are the challenges of bonding the LEAN construction agreements, alliancing arrangements, and 3-party collaborative agreements? How are they different from the DBB project? Are bonding companies getting caught up in claims for design defects? Has that affected bonding rates? How are LOC’s being used with new project delivery systems? Can you even get them today? Are Parent Corporation guarantees the new type of performance guarantee?