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On November 20, 2024, the Surety Bonds regulation (O.Reg. 461/24) came into force under Ontario’s Planning Act.
This regulation provides land owners and those applying for planning approvals with the option to stipulate that a surety bond will secure their approval-related obligations.
This type of su...
New Delhi , November 29: In India’s rapidly growing construction and infrastructure landscape, securing contractual obligations is paramount. Traditionally, bank guarantees have served as the backbone for ensuring performance, payment security, and contract fulfillment. However, with challenges such...
Constructive Thoughts Newsletter October 2024 - 5 min read
| The Guarantee Company of North America v. Raeside highlights the enforceability of surety rights under a General Indemnity Agreement (GIA). For a party to advance defences such as non est factum or relief from forfeiture, subst... |
Insurance Regulatory and Development Authority of India (IRDAI) has set up a task force to solve the bottlenecks and drive the growth of surety bond insurance in the Indian market. The task force comprises representatives from insurance companies, banks and reinsurers.
MANKATO — A couple suing Mankato Township for approving the proposed Blue Earth County shop project has posted a $1.2 million surety bond sought by the county to cover cost increases if the project is needlessly delayed by the suit.
In late April, homeowners Patrick Lease and Lynn Koosman-Lease filed...