The Contract Bond Surety's Subrogation Rights
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The Contract Bond Surety's Subrogation Rights

The Contract Bond Surety's Subrogation Rights
Product Code: 5190494
About the Authors: George Bachrach, Dennis J. Bartlett, James D. Ferrucci
Publication Date: April 2013
ISBN: 978-1-62722-012-5
Page Count: 716
Trim Size: 6x9
Sponsoring Entities: Tort Trial and Insurance Practice Section
Topics: Fidelity & Surety Law
Format: Book - 5190494
Pricing: $189.95 (Regular)
$175.95 (Tort Trial and Insurance Practice Section) ABA Members, Log in now to receive this discount!
About the Book

This detailed and comprehensive book addresses the contract bond suretys subrogation rights. The book flows from the general principles and required elements of the suretys subrogation rights to the application of those rights in specific situations.

The chapters address:
(a) the basic issues and rights of the contract bond suretys asserting its common law right to equitable subrogation, the treatment of the contract bond suretys subrogation rights in the RESTATEMENT OF THE LAW (THIRD) SURETYSHIP & GUARANTY, and the parties rights to which the surety may assert its subrogation rights (Chapters 1-3); (b) the necessity of the principals default, the suretys performance upon the principals default, and the suretys notice of the assertion of its subrogation rights (Chapters 4-6); (c) the suretys assertion of its subrogation rights to the bonded contract funds and other property in competition with the obligee, the principal, the principals subcontractors and suppliers, assignees/lenders, trustees and debtors in bankruptcy, taxing authorities and other governmental lien creditors, and the principals general and judgment creditors (Chapters 7-13); and (d) the suretys subrogation rights to the obligees and principals common law and contractual setoff rights, the many issues involving the suretys subrogation rights and claims against the federal government (including jurisdictional and substantive issues), and the suretys assertion of its subrogation rights against third parties such as design professionals, lenders, insurers and others (Chapters 14-16).

This book is essential for both sureties and any other parties and their counsel competing with the surety for the bonded contract funds and other property.
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