Transportation Industry Articles

Surety

Surety Credit Basics

2002-01-01 | Rolf A Neuschaefer

Rolf Neuschaefer explains how the surety market is changing in light of September 11 and the downfall of Enron, and the essential elements to a good working relationship with your surety, particularly in such uncertain times.

Maritime Law

A Vessel Doesn't Have To Be a Criminal To Be Arrested: in Rem Admiralty Jurisdiction and the Supplemental Rules

2001-11-17 | Michael A Orlando

Under maritime law, a vessel can be arrested to obtain jurisdiction and security for certain claims. Michael Orlando explores the basics of the different types of admiralty jurisdiction and what admiralty lawyers mean when they refer to "Supplemental Rules."

Surety

Bonding Tips and Tactics: Contractor Default Insurance

2001-10-01 | Rolf A Neuschaefer

Rolf Neuschaefer examines default insurance—a recent development designed as a substitute for the traditional surety performance guarantee and discusses its shortcomings from a surety producer's perspective.

Surety

Surety Bond Penalty Waivers in Takeover Situations

2001-07-01 | Marilyn Klinger

Courts recognize that the performance bond surety's limit of liability is the amount stated in its bond. There are a number of courts which have found that a performing surety waives its limited liability under the bond simply by taking over the principal's work. The prudent surety should, if at all possible, insist on an express limitation of liability when it takes over. However, creative arguments exist for the performing surety's liability to be limited to its bond amount, unless the surety expressly waives such limitation in writing.

Surety

All Guarantees Are Not Created Equal

2001-07-01 | Rolf A Neuschaefer

In construction, the obvious alternative to the owner/lender assuming the performance risk is to secure some form of guarantee. Rolf Neuschaefer examines some of the alternatives and highlights differences between them.

Maritime Law

Admiralty Jurisdiction: A Challenge for Even the Seasoned Practitioner

2001-05-01 | Michael A Orlando

Determining whether admiralty jurisdiction exists over a particular claim can prove extremely challenging, even for those well versed in admiralty law. This article examines the history, landmark cases, and how to determine where the baseline exists on a coastal state.

Surety

Proactive Surety Claims Handling

2001-04-01 | Marilyn Klinger

In recent years, sureties have begun more proactive claims handling. This article explains how sureties can work with the project owner, prime contractor, bond producer, underwriter, and claims personnel so that all can be in a win-win situation after a claim.