Bond Demand In Construction In Phoenix
Category:
State:
Multi-State
City:
Phoenix
Control #:
US-00415BG
Format:
Word;
Rich Text
Instant download
Description
A Bond is a document with which one party promises to pay another within a specified amount of time. The term "demand" means that the principal plus any interest is due on demand by the bondholder rather than on a specific date. Bonds are used for many things, including borrowing money or guaranteeing payment of money. A bond can be given to secure performance of particular obligations, including the payment of money, or for purposes of indemnification. The validity of a "private" bond, payable upon demand, is determined by the same principles applicable to contracts generally. The purpose of the bond must not be contrary to public policy; it must be supported by a valuable consideration; and there must be a clear designation of the obligor and the obligee. A bond procured through fraud or duress may be unenforceable, but mistake on the part of the obligor as to the contents of a bond, or its legal effect, is not a defense to enforcement of the bond.
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Summary of Arizona bond claim and notice laws and requirements for private Arizona projects including free forms, FAQs, resources and more. Arizona law dictates the bond claim must be submitted no later than 90 days after the last day you supplied labor or materials to a project.Arizona has a variety of construction bonds including those for home inspectors, several contractor trades, mobile home dealers and installers, and more. 1. Immediately upon contracting, send a written request for information. Browse our comprehensive selection of bonds online and conveniently request a free quote or proceed with purchasing the bond that meets your specific needs.
