Enforcing The Surety’s Rights To The Defaulting Principal’s Contract Funds On Federal Projects: A Step-By-Step Guide to Navigating the FAR
The Miller Act, 40 U.S.C. §§ 3131- 3134, requires a contractor (“Principal”) on a federal project to post two bonds: a performance bond and a labor and material payment bond to guarantee completion of the construction according to the plans and specifications in the contract and payment of laborers, subcontractors, and material suppliers. The Miller...