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

April 26, 2017aia DOCUMENT payment bond performance bond

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

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AIA Document A312™–2010, Performance Bond and Payment Bond, is one form that 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.