Trade Contractor Defaults. If a Trade Contractor defaults under a written Trade Contract, then CM/GC can use Contingency Funds to pay any increase in the Trade Contractor Costs for a replacement Trade Contractor. If Contingency Funds are used for such purpose, and if the defaulted Trade Contractor provided a performance bond, then CM/GC shall attempt to recover such increase in costs from the Trade Contractor’s surety. Any recovery shall be forwarded to Owner to the extent Contingency Funds were used under this Section.
Appears in 5 contracts
Samples: Construction Management Agreement, Construction Management Agreement, Construction Management Agreement
