-----Original Message-----
From: Ford, Ed [SMTP:Ed.Ford@LibertyInternational.com]
Sent: Thursday, December 23, 1999 9:37 AM
To: 'casnet@lists.casact.org'
Subject: Coverage Trigger Date for Contract (Performance)
Bonds
I would like some advice on this. How is the coverage trigger date
determined? Is there a common practice? What are the
considerations?
I have heard two answers. One is the report (to the insurer/surety)
date.
The other is the date the obligee "legally" notifies the principal
that the
obligee believes the principal is in default of the contract.
The choice clearly has an impact on financial reporting.
Edward W. Ford
Liberty International
175 Berkeley Street
Boston, MA 01238, USA
617-574-5967
Ed.Ford@libertyinternational.com
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