By Hope Patti (July 22, 2022, 4:40 PM EDT) — The Eighth Circuit on Friday reversed a summary judgment win for a surety in a coverage dispute with subcontractors stemming from compensation for a construction project, finding that a payment bond permits recovery for not only labor and material but also attorney fees and other costs.
A bond that Fidelity and Deposit Co. of Maryland issued to a general contractor obligates the surety to pay for costs, attorney fees and interest awarded to Stark Truss Co. and Lindberg Waterproofing, which assigned its rights to Owners Insurance Co., a three-judge panel held.
“The bond here obligates F&D to pay not only for…
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