Bảo hiểm & Quyền cầm giữCâu 1478 / 1605
On many private commercial projects, the direct contractor furnishes a 'payment bond.' The primary purpose of a contractor's payment bond is to:
a.Protect the owner against defective workmanship
b.Guarantee the project will be completed on schedule
c.Reimburse the owner's financing costs
d.Guarantee payment to subcontractors, laborers, and material suppliers who furnish work
Giải thích
A payment bond (Civil Code §8600 et seq.) guarantees payment to subcontractors, laborers, and suppliers. A performance bond, by contrast, guarantees completion/quality. The payment bond gives lower-tier claimants a surety to pursue in addition to (or instead of) lien rights.
Trích dẫn luật: Civ. Code §8600Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- After recording a mechanics lien, within what period must the claimant file a lawsuit (action) to foreclose the lien, or the lien becomes unenforceable?
- A 'stop payment notice' (formerly 'stop notice') is a remedy that allows an unpaid claimant to reach:
- On a private work with a construction lender, for a stop payment notice to bind the LENDER to withhold funds, the claimant generally must:
- California law makes which type of insurance MANDATORY for any contractor who has employees?
- A licensed contractor who has NO employees but holds a C-10 electrical, C-8 concrete, C-20 HVAC, C-22 asbestos, or D-49 tree service classification must:
- The main purpose of a contractor's Commercial General Liability (CGL) insurance policy is to cover:
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Sen Lin, Người sáng lập PrepPass · Đối chiếu với California CSLB Contractor License Law & Business Exam · Quy trình kiểm tra
Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)