At the heart of the dispute is a general agreement of indemnity for contractors, or GAI, which the parties entered into in August 2017. Under that agreement, Ohio Casualty – which underwrites the surety business as part of Liberty Mutual Group – issued payment and performance bonds totaling approximately $19.8 million in three construction projects in New York. The largest of the three, the Queensboro Community College Performing Arts Center ADA Reconstruction, took a $10,824,000 bond. The Baskerville Hall interior renovation at the City College of New York was bonded for $4,924,000 and the Marshall Lecture Room and bathroom renovation for $4,074,000.
Liberty Mutual subsidiary sues contractor for $3 million over bond default & more related News Here
