Understanding Construction Contracts by Akhtar Surahyo
Author:Akhtar Surahyo
Language: eng
Format: epub
Publisher: Springer International Publishing, Cham
FIDIC [3] standard form of performance bond has referred to a list of default events against Sub-clause 15.2 “Termination by Employer” of the Conditions of the Contract. These events are explained in Chap. 16 in detail and are briefly stated as under:1.Fails to provide performance security within time and amount specified
2.Abandons the work or have intention not to continue
3.Subcontracts whole of the work or assigns the contract without the required agreement
4.Becomes bankrupt or insolvent
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