1.A performance bond submitted by a general contractor to an owner guarantees that the owner will perform according to the conditions of the contract. True False 2.A general contractor requires a subcontractor to submit a payment bond to the general contractor on the project. Which of the following is the obligee in this situation? Owner Architect
1.A performance bond submitted by a general contractor to an owner guarantees that the owner will perform according to the conditions of the contract. True False 2.A general contractor requires a subcontractor to submit a payment bond to the general contractor on the project. Which of the following is the obligee in this situation? Owner Architect
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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1.A performance bond submitted by a general contractor to an owner guarantees that the owner will perform according to the conditions of the contract.
True
False
2.A general contractor requires a subcontractor to submit a payment bond to the general contractor on the project. Which of the following is the obligee in this situation?
Owner
Architect
Subcontractor
General Contractor
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