Connecticut Notice of Demand for Assurance of Performance and an Indemnity Bond

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Description

If a party to a contract has certain duties to perform under that contract and then transfers these duties to another person who is to perform them, there is a delegation of duties. Section 2-609 of the Uniform Commercial Code imposes an obligation on each party that the other's expectation of receiving due performance will not be impaired. When reasonable grounds for insecurity arise with respect to the performance of either party the other may in writing demand adequate assurance of due performance and until he receives such assurance may if commercially reasonable suspend any performance for which he has not already received the agreed return.


Between merchants the reasonableness of grounds for insecurity and the adequacy of any assurance offered shall be determined according to commercial standards.

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FAQ

Rule 7.1. A lawyer shall not make a false or misleading communication about the lawyer or the lawyer's services. A communication is false or misleading if it contains a material misrepresentation of fact or law, or omits a fact necessary to make the statement considered as a whole not materially misleading.

Regulatory Scheme: Connecticut Rule of Professional Conduct 7.4A permits attorneys to state or imply that they are certified specialists where certification is granted "by a board or other entity which is approved by the Rules Committee of the Superior Court." [Rule 7.4A].

If any person, liable to an action by another, fraudulently conceals from him the existence of the cause of such action, such cause of action shall be deemed to accrue against such person so liable therefor at the time when the person entitled to sue thereon first discovers its existence. (1949 Rev., S. 8335.)

Rule 4.2 of the Rules of Professional Conduct provides that ?[i]n representing a client, a lawyer shall not communicate about the subject of the representation with a party the lawyer knows to be represented by another lawyer in the matter, unless the lawyer has the consent of the other lawyer or is authorized by law ...

Section 52-577. - Action founded upon a tort. No action founded upon a tort shall be brought but within three years from the date of the act or omission complained of.

Rule 1.7 - Conflict of Interest: General Rule (a) Except as provided in paragraph (b), a lawyer shall not represent a client if the representation involves a concurrent conflict of interest.

Although it is prohibited to mix lawyer funds with client funds, Rule 1.15 of the Connecticut Rules of Professional Conduct permits a lawyer's own funds to be placed in a trust account for the sole purposes of paying financial institution service charges on the account or to obtain a waiver of fees and service charges ...

Rule 1.10 - Imputation of Conflicts of Interest: General Rule (a) While lawyers are associated in a firm, none of them shall knowingly represent a client when any one of them practicing alone would be prohibited from doing so by Rules 1.7, 1.8(c), or 1.9, unless the prohibition is based on a personal interest of the ...

More info

The notice shall be sent by certified mail, return receipt requested, to the last-known address of the principal and the person who provided the collateral ... We hereby demand assurances that you will duly perform your obligations under the purchase and sale agreement notwithstanding [Describe Grounds – e.g., “the ...This 2023 edition of the Practice Book contains amendments to the. Rules of Professional Conduct, the Superior Court Rules and the Rules of Appellate Procedure. Connecticut courts will enforce a notice requirement within a force majeure ... “Purpose of the demand for assurances of performance by the insecure party ... to the performance of either party the other may in writing demand adequate assurance of due performance and imtil he receives such assurance may if ... and performance bond for the same amount are attached to the ... performance of the Indemnity Agreement to enforce XL's demand for collateral security against. Surety bonds offer assurance that the contractor is capable of completing the contract on time, within budget, and according to specifications. Specifying bonds ... Notice should be sent by certified mail to the bonding company and perhaps to the owner of the project. This will help ensure that the prime contractor does ... May 19, 2020 — Performance Bond, Labor and Material Payment Bond and Certificate of Insurance naming the City ... commencement of the contract to file a ... coverage under the performance bond and demand that National Fire undertake and complete. Hodess's remaining obligations under the construction contract.

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Connecticut Notice of Demand for Assurance of Performance and an Indemnity Bond