Now, where in your experience, where on this planet does someone require a 50%-of-net-contract-value as a performance bond?
posted on 05/23/2008 1:13:43 PM PDT
by Red Badger
( We don't have science, but we do have consensus.......)
To: Red Badger
Sorry, Badger, not so. Goobermint contracts -- and I speak from direct experience, having written software for our glorious goobermint for a decade or so -- usually included liquidated damages provisions (quite sensibly), but I've never put up a dime as a performance bond.
Perhaps it's different in construction contracts, but I rather doubt it. If a construction project would take any length of time, a company that put up 50% of net contract value would lose its ass!
posted on 05/23/2008 10:05:27 PM PDT
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