Performance Bond and Payment Bond

 

Question

 

What is AIA Document A312™–2010, Performance Bond and Payment Bond?

 

Answer

 

AIA Document A312™–2010 (formerly A312™–1984), Performance Bond and Payment Bond, is one form that form incorporates two bonds: a Performance Bond covering the contractor’s performance, and a Payment Bond covering the contractor’s obligations to pay subcontractors and others for material and labor.

 

 

 

 

AIA Version:

AIA Contract Documents Software - all versions

Platform:

All

Last Updated:

2013-10-21

Number:

968

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