When To Use
Use A313™ when the owner requires additional financial security to guarantee the contractor will fulfill all post-construction warranty obligations set forth in the contract.
What It Does
As a warranty bond, A313 ensures that defects discovered after completion are remedied, with the owner not bearing the cost of the contractor's non-performance. The bond's coverage equals the contractor's warranty obligations as defined in the construction contract.
Additional Information
Carefully review the contractor's warranty obligations in the construction contract before executing the bond. Non-standard or overly broad warranty obligations may be difficult for the surety to underwrite. Bond forms are often prepared for execution by the Surety or the Surety’s agent.
