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Individual Sureties and the Hazards of the Irrevocable Letter of Credit

By Michael H. Payne on September 12, 2012
Posted in Procurement Information

By: Robert E. Little, Jr.

Several months ago, I was asked to present testimony before House Subcommittee on Courts, Commercial and Administrative Law on the subject of individual sureties. In that testimony, I warned that legal precedent had had little effect on policing individual sureties. Using the example in the Tip Top Construction case, I…

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