The main issue of double form bond

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Reference no: EM132155481

1. TRUE OR FALSE: Closed specs are NOT permitted in a private project.

2. The main issue of a double form bond is:

A These are not enforceable in court

B These bonds have many regulations attached

C They are hard to cover by the surety

D An issue can eat up the bond quickly leaving little for other issues

3. Bonding capacity can be higher if

A Bonding capacity is based on none of these

B The contractor confines it to one single project

C The contractor assumes responsibility for the project

D Bonding capacity is based on all of these

E The contractor spreads it over several projects

4. TRUE OR FALSE: For a third party of the contract to recoup damages fro a surety the third party must have had direct contact with the contractor or a sub contractor.

Reference no: EM132155481

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