White Paper / Risk Management
Payment Clauses: A Surety Perspective

Although contractors and sureties share the same goal of ensuring proper and timely completion of a project, a surety’s concerns are often invisible to the contractor. Because sureties and contractors review a contract for risk allocation much differently, both parties must make an effort to understand all contract provisions, as well as how they affect each other.

This white paper serves to briefly outline and differentiate two payment clauses, “Pay-If-Paid” and “Pay-When-Paid," that confront subcontractors and are often utilized by general contractors.

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