An owner may preserve its rights under bonds by obtaining the surety's approval to the contractor for payment and its agreement that final payment will not relieve the surety of any of its obligations.
A surety bond provider will go after you, its insured client, for restitution or repayment of the funds that the surety company lost.
An insurance provider on the other hand attempts to recover lost funds from the entity that caused the loss rather than going after you, its client.
The AIA Document G707™ Consent of Surety to Final Payment Form is intended for use as a companion to the AIA Document G706™, on construction projects where the contractor is required to furnish a bond.
By obtaining the surety's approval of final payment to the contractor and its agreement that final payment will not relieve the surety of any of its obligations, the owner may preserve its rights under the bond.
Using the G707™ Consent of Surety of Final Payment Form can be an important step for a homeowner to consider.
*Before* purchasing the hard copy version of the G707 Consent of Surety to Final Payment form - by the way you can't get just one, you'll get about 50 forms at a higher cost than the AIA charges for a one-time usage of the downloadable version.
The software they have available will fill in your AIA G707 Consent of Surety to Final Payment forms AND other AIA forms for you but that's not all...
This program includes a set of DIGITAL (Unlimited Usage) AIA-Like forms for when you don't have to use an actual AIA form but want to stay close to the general 'gist' of the form.
This gives you the best of both worlds - AIA-like digital forms to use when the use of an actual AIA form isn't required and when it is required this program will fill in your hard-copy versions of the AIA forms.
You'll get an exclusive discount on the software that is available only to you and my other customers.
Just be sure to use the code TCG in the discount box and you're good to go. If you forget, you won't get the discount and they won't apply the discount after your purchase so please be certain to have the code TCG in the discount box.
Because this software will fill in your AIA forms for you, you and your company will have a much more professional appearance than if you fill the form in by hand or use a typewriter and have to white-out mistakes.
Remember to use the code TCG to get your exclusive discount.
Don't forget to compare the cost of using real AIA forms (whether hard-copy or downloaded from the AIA website) with the cost of the program. It's eye-opening to say the least.
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