What We Know

Takeover Agreements and Bonds

Posted in Articles by Ty Thompson on Sat Nov 22, 2014

Is it time to revise your form takeover agreement?  In Allegheny Casualty Co. v. Archer-Western/DeMaria Joint Venture III, 2014 WL 4162787 (M.D. Fla. August 21, 2014), the United States District Court for the Middle District of Florida rejected non-binding authority that “when a surety elects to directly undertake performance of a principal’s obligations, the surety’s liability is no longer limited by the amount of the bond.”

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Indemnity Agreements and Bonds

Posted in Articles by Ty Thompson on Sat Nov 22, 2014

Beware that some courts may compel arbitration of a surety’s salvage claims against its principal and indemnitors even if the general agreement of indemnity (the “GAI”) does not include an arbitration provision.

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