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partial termination of contract

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partial termination of contract

Post by star39 on Thu Dec 16, 2010 3:28 pm

Hello guys,

I am basically new here. May I ask? If we issue an order of partial termination because a supplier failed to deliver the goods even within time extension, can demand the forfeiture of the surety bond (performance security) ? Must we prove by documents the actual loss or damage as the measure of liability under the bond or are we entitled to forfeit the surety bond on the sole basis of establishing the default of the winning bidder/supplier?

Thanks a lot.
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star39
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Registration date : 2010-12-16

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