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Gencon Contracting is the general contractor on a large construction project that will involve numerous subcontractors. The subcontractors are concerned about payment for materials and
Gencon Contracting is the general contractor on a large construction project that will involve numerous subcontractors. The subcontractors are concerned about payment for materials and labor they furnish to Gencon. The construction project is a private project. If Gencon arranges for a payment bond for this project, the ultimate purpose of that bond is (Search Chapter 10) a. to ensure that subcontractors and suppliers are reputable. b. to ensure that Gencon promptly receives all supplies and labor from its subcontractors. c. to ensure that the project will be completed free of liens. d. to ensure that Gencon is paid promptly by the project owner
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