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The Water and Sewerage Authority (WASA) has won an appeal over its right to access a $2.5 million performance bond related to a terminated contract for a major sewer project in San Fernando.
In a judgment this week, Appellate Judges Mira Dean-Armorer, Maria Wilson and Carol Gobin dismissed Bankers Insurance Company Ltd's appeal over a judge's decision to uphold WASA's claim to the bond.
The ruling provided appellate endorsement of the enforceability of performance bonds in public infrastructure contracts.
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