Replacing a Defaulted Electrical Subcontractor with Surety Bond Providers
When a major mechanical or electrical subcontractor goes bankrupt midway through a project, mobilizing the surety bond provider quickly prevents project shutdown.
Amit KasliwalCEO & Founder, Dehurdle
February 06, 20234 min read
The Performance Bond Mobilization Script
Recommended Spoken Script
What to say to the surety adjuster: "We have issued a formal 7-day contractual Notice of Default to Apex Electric following complete abandonment of the site. Under Performance Bond #4081, we request the surety immediately elect a completion contractor or authorize our team to execute a takeover agreement with the secondary bidding trade to avoid critical path project delays."
The 2-Minute Practice Drill
2-Minute Spoken Drill
The 2-Minute Practice Drill
Practice surety bond negotiation in Dehurdle.