Surety and Fidelity

Trif & Modugno attorneys represent sureties in response to surety bond claims and litigation. We have extensive experience in representing clients in complex performance and payment bond cases ranging from major contractor defaults to bond fraud to bad faith allegations. With respect to performance and payment bonds, our representation encompasses, among other things: 

  • Claims Investigation, Management and Coordination
  • Default and Associated Claim Analysis
  • Takeovers and Tenders
  • Handing of Contested Defaults
  • Litigation, Arbitration and Mediation
  • Workouts, Intercreditor and Security Agreements, Restructuring and Financing
  • Protection of Surety Interests in the Principal’s Bankruptcy
  • Pursuit of Indemnity, Salvage, Subrogation and non-dischargeability
  • Auditing of Third-Party Claim Administrators
  • Management of Run-off Books
  • Collateral preservation

Additional relevant experience includes acting as national claims counsel for sureties, successfully prosecuting claims against lenders of defaulted bond principals asserting assignment of rights in bonded contract receivables and defending claims by indemnitors alleging various tort claims (e.g., bad faith and lender liability). We also regularly prosecute claims belonging to completing sureties against owners involving cost-overruns and impacts attributable to delays, disruptions, differing site conditions, and other forms of equitable adjustments.

Attorneys at Trif & Modugno are also regularly called upon by commercial and contract surety underwriters to opine on and provide recommendations related to, among things, underwriting policies and procedures, product viability/potential, risk transfer, bond formation and collateral establishment. Our attorneys also assist surety underwriters with analyzing principal/indemnitor assets and drafting associated collateral security agreements (e.g., financing statements, deeds of trust, etc.).

The breadth of our surety experience is truly expansive as we otherwise have extensive experience handling claims against fidelity bonds and other miscellaneous bonds, including customs bonds, bid bonds, probate bonds, notary bonds, mortgage broker bonds, motor vehicle dealer bonds, bankruptcy trustee bonds, license bonds, estates, trusts and guardianship bonds to name a few.

Trif & Modugno is revolutionizing the way in which global carriers interact with panel counsel. Our attorneys work with in-house teams to ensure responsiveness and compliance with required policies and procedures, and the application of the appropriate level of resources to the problem(s) at hand. Through interaction and working cooperatively with client representatives, we have a proven track record of increasing the efficiency of our representation while minimizing spend.