Multiple Complaints on Contractors Bond
We submitted a complaint to our contractor’s bond for poor workmanship in August 2018. The Bond company just informed us that there is a 2nd complaint for the same contractor. I know that “If a bond required by this article is insufficient to pay all claims in full, the sum of the bond shall be distributed to all claimants in proportion to the amount of their respective claims.” However, what are the guard rails here? Do we need to wait until they finish the investigation on the 2nd complaint – which could be another 9 months? and during that time another complaint can come in? Or is our 2018 complaint against the 2018 bond and the new complaint against the 2019 bond? I am not sure when the work was done related to complaint #2. Again, I am just trying to find the rules here that the bond company needs to follow when there is more than one complaint against a contractor’s bond.